CAF president visits Ecuador
CAF President Enrique García is on a visit to Ecuador where he will carry out a full agenda of activities related to competitiveness, and support for the productive sector, the city of Guayaquil, and the campesino communities of Chimborazo.
Accompanied by the mayor of Guayaquil, García plans to tour the works being executed with CAF financing (San Eduardo tunnel, Land Terminal, Estero Salado dock and urban regeneration works). He will also witness the signing of the contract for the execution of the Estero Salado collector.
For private productive sector, the CAF will sign a credit with Favorita Fruit Company, which produces and exports high-quality bananas and tropical fruit and generates 9,000 jobs. The company will use the $15-million line of credit to expand its industrial plants and infrastructure.
The multinational lender will also sign a $10-million loan agreement with PRONACA, leading company in the meat, agroindustrial and aquaculture sectors, which generates 6,500 jobs. The loan is destined for the expansion of the Durán industrial plant and investment in advanced technology. This is the second loan that CAF has granted to PRONACA.
In Guayaquil, the CAF president will sign agreements with two local banks. The agreement with Banco de Guayaquil defines a new framework for participation under which the bank´s customers receive finance from a CAF line of credit.
With Banco Solidario, the CAF is to sign an agreement to open a $2-million line of credit to finance loans to micro entrepreneurs and families of emigrant micro-entrepreneurs in the "My Family, My Country, My Return" program.
President García will also take part in the "Ecuador Competes" meeting to be held in the Hotel Hilton Colón, in which the National Competitiveness Council presents its agenda to the country. At the meeting, García will give a presentation on CAF´s role in regional competitiveness and announce the new Global Competitiveness Index which the World Economic Forum prepares every year.
Finally, García plans to visit the Pulinguí community in Chimborazo province where, jointly with the Canadian Development Fund, he will formalize assistance to 80 campesino communities. The project aims to strengthen the Andean organic grain production project, which will benefit 4,000 indigenous members of the Chimborazo Federation of Indigenous and Rural Women.
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