The signature was made by the Minister of Economy and Finance, Simón Cueva and the president of CAF, Sergio Díaz Granados
The Development Bank of Latin America (CAF) and the Ministry of Finance of Ecuador formalized the signing of two loans for a total of $ 325 million in favor of Ecuador, whose objectives are to “support the strengthening of the public health system through the national plan of vaccination, and productive reactivation, through support for the sustainability of public finances ”.
The first loan, for $ 75 million, it includes actions for the acquisition of vaccines certified by the country’s regulatory bodies; the strengthening and updating of the logistics chain necessary for immunization; and the development and strengthening of information and registry systems, from the national level to the subnational levels.
The second loan, for $ 250 million, it seeks to support the sustainability of public finances and guarantee a sustainable debt trajectory; promote the reactivation of production with an emphasis on improvements in competitiveness; growth with equity, including a social protection system aimed at the sectors most affected by the pandemic, through the expansion of conditional cash transfer programs.
“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, strengthening the countercyclical effect of fiscal policy to face current challenges, and navigate a path of sustainable, inclusive and resilient recovery. Likewise, we continue to offer financing facilities to support the management that the authorities are carrying out in their vaccination plans and the strengthening of the health sector, to improve the well-being of the population ”, Sergio Díaz Granados, executive president of CAF, mentioned. (I)
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