![Ecuadorian development counts on CAF Ecuadorian development counts on CAF](/media/29274/firma-ecuador.jpg)
Ecuadorian development counts on CAF
On the first loan totaling US$250 million, the CAF official said, "the Ecuadorian government has proposed the need for an agenda of specific multiple actions on two fronts: public debt management and improvement of the quality of expenditure on public investment projects which is where this loan is specifically targeted."
The operation supports the Ecuadorian government’s efforts to execute the agenda, with the aim of guaranteeing the strengthening of public credit management with a view to improving capacities and benefiting proactively from market opportunities, achieving an adequate borrowing profile, at the same time as reducing the interest payments in the budget. The program also supports another segment of financial budgetary management which is improvement of the standards of efficiency, transparency and accountability of the budgetary resources assigned to sectional governments and other beneficiaries.On this aspect Berrizbeitia commented, "in a context of severe restrictions on resources, the same degree of importance should be given to the analysis of public expenditure from the point of view its contribution to reducing poverty and promoting growth, as to budget compatibility with development plans and sectoral strategies." He emphasized the importance of this other component of the operation because it deals with a key issue in the development field, which is the quality of public expenditure.
The social componentThe program has been conceived as a catalyst and guarantor of the financial flows for two priority programs: first, through protection of the execution and expansion of the Universal Health Assurance Program (AUS) up to US$130 million; and second by guaranteeing higher quality and equality in the planned coverage for 2006 and 2007 of the Program for Universalization of First-Grade Primary Education (UEB) for an amount of US$70 million.
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The Food and Agriculture Organization of the United Nations (FAO), CAF -development bank of Latin America and the Caribbean-, the Ministry of Agriculture, Land and Fisheries and the Tobago House of Assembly celebrated the successful completion of the “Digitization and Innovation for the Competitiveness and Sustainability of the Agribusiness Sector in Trinidad and Tobago” project. The closing ceremony, that took place on the 29th of July, marked a significant milestone in the country's efforts to modernize and enhance the agricultural sector.![CAF recognizes Panama's water potential in the face of climate change CAF recognizes Panama's water potential in the face of climate change](/media/4669780/2_cuencas_hidro_caf_.jpg)