The resources will be invested in strengthening the country’s vaccination plan and in supporting the reactivation of the productive sector.
BOGOTÁ. The Development Bank of Latin America-CAF and the Ministry of Finance of Ecuador signed this Tuesday (December 7, 2021) two loans for a total of 325 million dollars destined to support the vaccination plan against Covid-19 and reactivation of economic production.
“With these financial resources we hope to support the fiscal management of the National Government and contribute to promoting the availability and timely execution of public resources,” said the executive president of CAF, Sergio Díaz-Granados, during the CLXXIII board of directors of the Bank that was held today in the Colombian city of Cartagena de Indias.
The first credit, of 75 million dollars, is intended for the Government to acquire “efficient, effective and safe” vaccines against Covid-19, as well as strengthen the logistics for immunization, as explained by the CAF in a statement.
«We continue to offer agile and efficient financing facilities to support the management that the authorities are carrying out in their plans for vaccination and the strengthening of the health sector, to improve the well-being of the population ”, explained Díaz-Granados.
The second loan, for 250 million dollars, “seeks to support the sustainability of public finances and guarantee a sustainable trajectory of the debt that helps to consolidate confidence in macroeconomic stability,” according to the financial agency.
East credit will be destined, therefore, to promote reactivation productive for a “sustainable economic development and inclusive and solidary growth”, as well as to strengthen the social protection system, so that it affects the affected sectors in their subsistence economy.
The strategy of the CAF in Ecuador, among its priorities is the consolidation of the sustainability of the economic system, the promotion of productivity and competitiveness for growth with equity and social inclusion.
During the 2016-2020 five-year period, CAF approved credit and technical cooperation operations to Ecuador for a total of 4,380 million dollars.
Likewise, total disbursements in that period amounted to 3,707 million dollars and the country’s portfolio at the end of August 2021 reached a total of 3,859 million dollars. EFE
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