CAF provides $2 mn grant to Ecuador

Ecuador and CAF-Development Bank of Latin America signed an accord Friday that will see the Andean nation receive a $2 million grant to work on areas of productivity, environment and climate change, and the strengthening of institutions.

“Underwriting this document signifies a technical cooperation accord that will aid the implementation of development projects,” a statement by Ecuador’s Foreign Ministry said.

Taking part in the signing ceremony were Foreign Minister Jose Valencia and CAF representative Bernardo Requena, among other high-ranking officials.

“Cooperation between CAF and Ecuador already has a good history, a very positive history for the country. CAF and Ecuador are allies in the search for high national goals to make part of the national development plan,” Valencia said.

He added that Ecuador “had a magnificent experience in the previous phase” of this agreement, during which “the goals we set were surpassed by far.”

In 2018, CAF provided $9 million for sustainable and social development projects, “all in line with the goals of the Ecuadorian government.”

This new agreement, which will be in force until 2020, “will have the same positive objectives, even more ambitious ones,” the minister said.

The assistance accord involves consultancies, studies, interchanges of experiences, scientific cooperation, obtaining equipment, support in strengthening South-South cooperation and humanitarian aid.

“In the 2015-2018 period the goals were surpassed and we provided an allocation of $16 million in technical cooperation,” said Requena, who put CAF “at the service” of Ecuador to support its development.