Ecuador Signs USD 175 Million CAF Loans

During the meeting of the board of directors of CAF—development bank of Latin America—held in Asunción, the Minister of Economy and Finance of Ecuador, Simón Cueva, and CAF executive president Sergio Díaz-Granados signed three credit agreements for USD 175 million in favor of Ecuador.

The first agreement, for USD 75 million, will be allocated to the Broad Focus Sectoral Program, and will support road planning and development (secondary and tertiary), access to irrigation and drainage services in the provinces of the country, and promote the implementation of planning and management tools to optimize the monitoring of interventions.

The second agreement, for USD 50 million, will contribute to the implementation of the National Water and Sanitation Plan 2021–2025, in particular with regard to improving the governance and management of drinking water and sanitation services.

The third, for USD 50 million, is intended to recognize and reinforce policy actions for the implementation of the National Development Plan in the Education Sector 2021–2025.

“These loans are proof of our commitment to continue supporting the Government of Ecuador in its development programs, and thereby contribute to sustainable growth that aims to improve the quality of life of all Ecuadorians,” said Díaz-Granados.

Currently, Ecuador’s portfolio at CAF accounts for 13.9% of the bank’s total. In the past six years (2016–2021), CAF approved operations for Ecuador for USD 3.9 billion, which translates into an average USD 650 million per year, accounting for 4.97% of the total approved by CAF in that period for member countries.