The loans will be channeled through public banks in the microcredit segment. Banecuador must establish the details of the loans.
President Guillermo Lasso issued a decree on December 10, 2021 in which it authorizes the public banking the delivery of microcredits with an interest rate of 1% and a payment term of up to 30 years.
The document does not detail the grant amounts, but it does indicate in its introduction, although in a general way, that they will be destined to micro, small and medium rural and marginal urban producers.
In this sense, the President instructs the Ministries of Production, Economic and Social Inclusion, as well as the Ministry of Agriculture and Livestock to identify potential beneficiaries of these microcredits.
The allocation of resources for the fulfillment of this project is in the hands of the Ministry of Economy and Finance. (LAG)
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