CAF will continue supporting development in Ecuador

Luis Carranza Ugarte, Executive President of CAF, Development Bank of Latin America, visited Ecuador for the first time to participate in the swearing ceremony of Lenin Moreno, President of the Republic. 

Representing CAF, Carranza was part of the international delegations that attended the event which took place in the National Assembly. Among the official protocol acts stood out the speech of the Ecuadorean President during the inauguration and lunch in honor of the Chiefs of State and visiting delegations. 

CAF's Executive President also met in a working meeting with Carlos de la Torre, Minister of Finance, appointed by President Moreno. 

During the meeting, Carranza reiterated the entity's commitment to support sustainable development in Ecuador, through projects that emerge from the country's development plan, and in line with CAF's comprehensive strategy. 

CAF's support in Ecuador has recently focused of the following strategic sectors: economic and integration infrastructure, social and environmental development, and institutional development, through initiatives that benefit Ecuadoreans. These initiatives include the first Metro line in Quito; the II Program to Strengthen the Electric Distribution System; the New Educational Infrastructure Program; Dué - Hidroalto hydroelectric project; the Zoning and Sustainable Development Plan of the Urban Center of the city of Loja; and the Program for Roadway Development in the Los Chillos Valley, among others. 

CAF's President also reiterated the Institution's interest in continuing its support for Ecuador's territorial development, as it has been carried out recently with financing and technical assistance for the cities of Cuenca, Loja, Guayaquil, and Quito. 

During the past 5 years, CAF has approved operations for Ecuador for approximately USD 4 billion, representing an average of USD 800 million per year.