World Bank extend loan to Ecuador for $ 1,000 million

The World Bank extended a line of credit to Ecuador for $ 1,000 million. Nathalie Cely, U.S. Ambassador for Ecuador, yesterday confirmed this through her Twitter account.

Fausto Herrera, Minister of Economy, had anticipated to a local media about the credit that will be added to other USD 3,000 million granted by China and other creditors.

These amounts will finance public accounts and solve the requirements of the latter phases of eight hydroelectric projects that have required additional USD 2,000 millions.

Thus, Ecuador returns to official relations with the multilateral agency, whose presence had been null until late last year due to the expulsion of the World Bank representative in 2007.