World Bank earmarks $1 billion for Ecuador loans

  • 29/05/2003

The World Bank has earmarked $1 billion for Ecuador in a four-year lending program designed to help the economy and protect the poor, the bank said. At the same time, the bank approved two $50 million loans for the country. Individual loans in the country program, set to last through 2007, have to be approved by the board of executive directors. "This strategy comes at a critical moment of opportunity for Ecuador," said Marcelo Giugale, World Bank Country Director for Ecuador, Peru, Bolivia and Venezuela.