The National Finance Corporation (CFN) received a new international loan from a multilateral organization. We are talking about the World Bank, which has closed the phase of negotiations and definitions for second-line loans of 300 million dollars with that country.
IDB approved a loan of 300 million dollars to CFN for loans to micro, small and medium enterprises
This loan is in addition to the financing finalized last week by the Inter-American Development Bank (IDB), which also allocated $300 million to the CFN to promote access to credit for productive purposes for small and medium-sized enterprises, in the context of diversification and financial inclusion, favoring micro , small and medium-sized companies.
More opportunities for Ecuadorian MSMEs 🇪🇨!
Through the CFN, the state government concluded the negotiation and definition phase with the World Bank for additional financing of USD 300 million for second tier loans.
▶️ https://t.co/7pnSrNXa4z pic.twitter.com/VWRoXMi0S3
— CFN BP. (@CFN_ECUADOR) April 19, 2023
These funds, CFN explains, will be channeled into climate change mitigation and adaptation projects, through a second-order mechanism, through private banking.
He also added that on April 13 and 14, technical workshops were held where the terms of the loan were defined. The details of those meetings are included in the minutes of the negotiations, with the signatures of the representatives of each delegation.
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