Enrique García met with Rafael Correa, the President of Ecuador, at the Carondelet Palace.
On an official visit to Ecuador, the Executive President of CAF held meetings with the highest national and municipal authorities to ratify the Institution's support toward the strategic development of the country. Since 2007, CAF has approved USD 6.4 billion Dollars for public and private projects
During his official visit to Ecuador, Enrique Garcia, Executive President of CAF, Development Bank of Latin America, met at the Carondelet Palace with the President of the Republic Rafael Correa Delgado, and other authorities in the economic field. Garcia highlighted the growth rate of the Ecuadorean economy and the Institution's presence in the country, "CAF is currently one of the main sources of multilateral financing in Ecuador".
Since 2007, the Institution has approved USD 6.4 billion for public and private projects in the country, which represents an average of almost 800 million Dollars a year. Garcia hopes that this support will continue during the next five years and that it may increase to reach USD 5 billion during this period.
In his agenda, Garcia had meetings with Fausto Herrera, Minister of Finance, and Maria Soledad Barrera, President of the National Financial Corporation, with the purpose of discussing the projects CAF supports for the development of Ecuador.
Also within the framework of his visit, Enrique Garcia, together with Mauricio Rodas, Mayor of Quito, walked through the construction of phase II of the "Ruta VIVA" at the Intervalley Interchange Station, the Tumbaco Interchange Station, and the bridge over the Chiche River. Garcia congratulated the city for this construction, and stated that, "we should be very proud of works of this nature. CAF is very committed with all important urban works for the region aimed at improving the quality of life of its people". The investment of the Ruta VIVA almost reached USD 350 million, of which USD 175 million were financed by CAF.
At the same time, CAF's Executive President presented the Forest program "Valuing Natural Capital for a Green Economy", whose objective is to preserve existing forests in CAF member countries. He assured, "this program is important because the greatest natural and tropical forest reserves in the world are found in this region".
During the launching of the Program, three technical cooperation agreements were signed: the first is to carry out vulnerability and adaptation studies to manage the Water Basins in five hydroelectric power plants; the second regards the implementation of the program "Amazon without Fires" in Ecuador; the third agreement was signed with the Corporation for the Promotion of Exportation and Investment (CORPEI, for its acronym in Spanish) in order to measure the "Carbon Footprint of Food Exports in Ecuador".
President Garcia participated in the "Music to Grow Concert", carried out by the Ecuadorean Youth Symphonic Orchestra Foundation, which has received unconditional support from CAF for the past 14 years.
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