This morning, in a radio interview, the president gave more details of the 1% loan and a term of up to 30 years, which will be implemented in these days
From $ 500 and up to $ 5,000 will be the amounts of the credits at 1% and up to 30 years term that will be granted soon by BanEntaciónsmall producers and entrepreneurs, reported this morning andhe President of the Republic, Guillermo Lasso, in a radio program Encontrémonos. President Lasso indicated that these monies will be delivered in an agile manner in order to generate reactivation in the agricultural and livestock sectors, in the small industry, new ventures in the agro-industrial sector and placing special emphasis on benefiting Ecuadorian women.
The president assured that the citizen who wants to access these credits will not have to go through cumbersome procedures and that the historical credit record in Banecuador will not be taken into account. In any case, he indicated that the official presentation will be made next Wednesday in Latacunga, Cotopaxi province.
The process for granting credit of these characteristics is currently in the resource management stage. Yesterday, the Financial Policy and Regulation Board, approved the creation of a 1% Social Interest Microcredit segment. The Board has asked the manager of BanEcuador to proceed with the management of the money, because the interest rate of 1%, being so low, requires a subsidy.
Meanwhile, when President Lasso is consulted on whether there will be technical support or training for the beneficiaries of the loan, The president said that there will be some kind of training, but that it will not be part of the requirements to access credit, as this would be a restriction and would generate delay.
On the other hand, the president ratified that in the next few days he will send the Investment Law to the Assembly, as an urgent matter. It considers that investments are those that will be able to generate economic growth and greater employment. He stressed that in the first seven months of his government, 288,000 new jobs, which means that the country is moving in the right direction.
However, he commented that the labor reform will be presented to society for a great debate, and ratified that this new Labor Opportunity Law will benefit 7 out of 10 Ecuadorians who do not have a suitable job.
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