Contribution for modernization of technical colleges in Ecuador

(Caracas, May 28, 1993). -- CAF today made available a US$10 million line of credit to the Ecuadorian Ministry of Finance for foreign trade operations of the National School Construction Department (DINACE).

DINACE will use the credit facility to continue modernization of the training systems of the country's technical colleges, project which began in 1984 in 25 establishments under contract to two Canadian organizations: Canadian Commercial Corporation and Lab-Volt Ltd.

Given the success of this program and its importance for the education sector, DINACE began a second stage with the same Canadian suppliers, with CAF finance. This time coverage will be expanded to 32 new colleges at technical and advanced technical level.

As in the first stage, the new stage will include the disciplines of electricity, electronics, radio, television, digital electronics, microprocessors, computers, electricity technology, adding hydraulic and pneumatic, electric and electronic control of motors, air conditioning and refrigeration, and instrumentation and control of processes.

The agreement was signed in CAF headquarters in Caracas by CAF President & CEO Enrique García and the Ecuadorian Ambassador in Venezuela Ximena Martínez de Pérez.