*Ecuador has secured loans from the Inter-American Development Bank (IDB) and the Latin American Development Bank (CAF) for the development of key infrastructure projects. The IDB has approved a US$500m loan to “galvanise the energy transition and public and private investment in Ecuador”, according to an IDB statement. This, the statement said, will provide increased energy access to some 80,000 homes in rural and marginalised areas and connect communities in the Galápagos Islands to the power grid. The IDB loan is accompanied by a further US$100m in financing from the Korea Infrastructure Development Co-financing Facility for Latin America and the Caribbean, which is administered by the IDB. Ecuador’s economy & finance ministry also announced yesterday that the CAF has signed off on a US$218m loan for seven road projects in the provinces of Azuay, Carchi, Chimborazo, and Santo Domingo de los Tsáchilas.
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LatinNews Daily - 26 July 2024
In brief: Ecuador secures loans for infrastructure projects
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