Photo: World BankWorld Bank Group Expands Subnational Infrastructure Finance in Ecuador
Reported by World Bank, not nibnow. We are not the publisher of this story, only the source is.
This new financing program directs US$800 million over ten years to improve essential services, create jobs, and support sustainable economic growth for local governments in Ecuador.
The World Bank Group has announced a new initiative to boost subnational infrastructure financing within Ecuador. This financial support relies on a structured Multiphase Programmatic Approach. Operations will be managed directly by the Banco de Desarrollo del Ecuador across a decade, which is divided into three distinct implementation phases. The entire financial commitment reaches a maximum limit of eight hundred million US dollars. This long-term project aims to improve local development and municipal infrastructure projects throughout the country by distributing the funds progressively over the ten-year timeline.
The World Bank is an international financial institution that provides loans and grants to the governments of low and middle income countries for the purpose of pursuing capital projects.
- •Implementation progress of the first phase by Banco de Desarrollo del Ecuador B.P.
- •Mobilization of private capital for infrastructure investments
- •Approval and rollout of subsequent phases of the program