IDB approves $ 250 million loan for Ecuador

The Inter-American Development Bank (IDB) approved a loan of 250 million dollars to face the effects of the coronavirus pandemic in Ecuador.

The operation is part of the amount of $ 700 million with which the IDB committed to support Ecuador in the crisis stemming from the COVID-19 pandemic.

The funds, which have a repayment term of 25 years, will be used to improve the detection and follow-up of coronavirus cases in the Latin American nation, also in the medium term, when the population returns to economic and educational activities.

It also seeks to support minimum income levels of people affected by the coronavirus emergency within the framework of the quarantine decreed in Ecuador to prevent the spread of COVID-19.

To do this, cash transfers will be made, a measure that can support 550,000 families in poverty or vulnerability.

K. Tovar

Source: El Comercio