World Bank Group Approves $800 Million Infrastructure Financing for Ecuador
The World Bank Group has approved a new financing program for Ecuador, totaling $800 million, aimed at expanding access to resilient infrastructure finance for local governments and public service providers. This initiative is designed to improve essential services, create jobs, boost productivity, and support sustainable economic growth in the country. The financing will be delivered through a Multiphase Programmatic Approach (MPA) and implemented by Banco de Desarrollo del Ecuador B.P. (BDE B.P.) over three phases, spanning ten years. The first phase includes $200 million in World Bank financing, supplemented by $50 million in parallel co-financing from the Spanish Agency for International Development Cooperation (AECID). This program is expected to benefit over three million people by enhancing connectivity, access to energy, urban infrastructure, and housing. Additionally, it aims to mobilize up to $750 million in private capital for infrastructure investments.