World Bank loans more to Ecuador

The Ecuador Ministry of Finance reported yesterday that the Board of the World Bank approved a credit line for Ecuador of $500 million for a term of 30 years (with a grace period of 9.5 years) at a rate of 3.97%. The Ministry says that the money will go to vulnerable sectors.

Additionally, the agency approved a program for the coming years for more loans that would vary between $500 million and $800 million annually. “A further sign of confidence of the international community in the Prosperity Plan,” said the Ministry.

Extracted from El Comercio