The loan has a term of 28 years and an interest rate of 2.5%.
The World Bank disbursed USD 500 million to the Ecuadorian Government as part of the freely available loan approved on May 7.
In a statement, the Ministry of Finance reported that the resources will allow the country to invest in its Resistance, Reactivation and Recovery plan in the face of the coronavirus emergency.
The loan has a 28-year term, which includes an 11-year grace period and an interest rate of 2.5%.
Minister Richard Martínez commented that the support of the World Bank and other multilateral organizations allows us to join efforts to address employment and groups considered vulnerable.
The director of the World Bank for Bolivia, Chile, Ecuador and Peru, Marianne Fay, indicated that her organization will continue supporting Ecuador in this health emergency, in order to contribute to the economic recovery in the medium term.
Source: Ministry of Economy
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