The transfer made will benefit a total of 180 GAD, 63 of them municipal.
The Ministry of Economy and Finance transferred $ 24.8 million to the Development Bank (BEDE), which will be used to finance programs promoted by the Decentralized Autonomous Governments (GAD).
The management was carried out by the Association of Ecuadorian Municipalities (AME), through its president, Franklin Galarza, the statement said.
The transfer made will benefit a total of 180 GAD, 63 of them municipal, and they will have the resources to promote their projects, inject liquidity into local economies and contribute to the economic reactivation of the country.
Some $ 360 million of VAT per year will remain in the pockets of the GADs and universities with the Direct Withholding Law
“One of the main objectives of the AME is to ensure the respect and guarantee of municipal interests and this type of management ratifies the commitment and the results of this representation before the different instances,” says Galarza.
The orderly management of public finances from the central government will allow the GADs to fulfill their obligations and with their communities, added Galarza.
The resources delivered to the financial institution will be used promptly for the payment of payroll corresponding to the investment projects, contained in the financing agreements and programs duly signed with the GAD.
Among the main agreements and programs covered by the payment made by the Ministry of Finance are the agreements for the allocation of resources Fingad 1 and 2 with $ 13 million; the water and sanitation program with $ 9.6 million and specific programs for municipalities and rural parishes with $ 2.2 million. (I)
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