CAF contributes USD 200 million for the electricity distribution system of Ecuador
The purpose of the program is to ensure the availability of electric energy for the country, to satisfy current and future demand
Fausto Herrera, Ecuador's Minister of Finance, and Enrique Garcia, Executive President of CAF, Development Bank of Latin America, subscribed a loan contract for USD 200 million to finance the program to strengthen Ecuador's national electricity distribution system.
The purpose of the Ecuadorean government's program is to ensure the availability of electric energy in the country to satisfy current and future demand, particularly the demand related to the induction stoves program carried out by Ecuador. In this regard, CAF's cooperation will help strengthen the sub-transmission and distribution networks through the construction and rehabilitation of sub-stations.
Enrique Garcia, Executive President of the multilateral financial institution, highlighted, "CAF's contribution will enable the improvement of the country's energy efficiency for the next three years, which will result in greater competitiveness, saving of resources by the Ecuadorean State, and quality of life for Ecuadoreans".
It is estimated that the Ministry of Electricity and Renewable Energy of Ecaudor will execute the program during a period of three years. The signing of the agreement took place in the framework of CAF's Board meeting in Panama City, Panama.
Thus, as a representative development bank of Latin America, CAF continues to design and implement programs that promote entrepreneurial development and competitiveness with productive and socially inclusive criteria.
CAF's more recent content
CAF, ECLAC, IDB and PAHO Promote Sustainable Development in the G20
The Regional Organizations of the Americas congratulate Brazil on its successful G20 Presidency, highlighting its leadership on key issues such as poverty, governance, and climate change. They also reaffirm their commitment to actions that promote equity and development in the region.
Urgent Call for Action to Safeguard Caribbean SIDS at CAF Symposium
As the global community grapples with the escalating climate crisis, Caribbean Small Island Developing States (SIDS) are running out of time to secure critical investments and support needed to strengthen their economies and protect vulnerable communities from the intensifying impacts of climate change. With the window to take decisive action rapidly shrinking, CAF - Development Bank of Latin America and the Caribbean, in partnership with the Commonwealth Secretariat and the Antigua and Barbuda High Commission, brought together key stakeholders for a symposium in London to address the critical vulnerabilities Caribbean SIDS face.