Ecuador has secured continued support from international organizations for its economic plan. The World Bank’s board approved $1.1 billion in financing for the country, divided into two main operations.
Of the total amount, $900 million is allocated to support fiscal sustainability, growth, job creation, and the protection of vulnerable families. An additional $200 million is designated for climate risk management through a Catastrophe Deferred Drawdown Option operation. This is the first time Ecuador has received approval for this type of operation, which allows immediate access to funds in case of natural disasters or epidemiological events.
Issam Abousleiman, director of the World Bank Division for Bolivia, Chile, Ecuador and Peru stated: “With this approval, the World Bank recognizes that Ecuador has taken important steps to strengthen the sustainability of public finances and said that this financing is part of the commitment that the Bank has with responsible fiscal management by the government and that protects the most vulnerable groups.”
During President Daniel Noboa’s two years in office, there have been signs of improvement in Ecuador’s economic situation. These include ongoing international support, a steady reduction in country risk levels, inflation control, record-high international reserves, lower poverty rates, increased exports and total sales, higher adequate employment rates, and more productive loans from private banks. The support from multilateral organizations aims to promote sustainable growth in Ecuador and improve well-being for its population.
