Ecuador’s 20 provinces have been funded by 36 projects Debt conversion program Between the two countries. Spain has written off a debt of USD 50 million in exchange for allocating those resources to a construction project in Ecuador. Public investment. After 17 years, the program closed on May 6, 2022.

Authorities in both countries have revoked Ecuador’s debt conversion program (PCDEE) against Spain, which was signed on March 14, 2005 between the Spanish Ministry of Finance and Public Administration (MH) and Ecuador’s Ministry of Economy and Finance (MEF). .

He created with it Ecuador-Spain Fund For which Ecuador has paid 50 50 million, which is equivalent to 100% of the debt forgiven by Spain. They were loans from Spain under the former Development Assistance Fund (FAD).

“They are gone 17 years from subscription, So that a cooperation has been created between our countries at both technical, business and institutional levels (…). Charged for all this Assets have been disclosed36 government investment projects have been funded for economic and social development, ”he said. Charles BodyGeneral Secretary of the Spanish Treasury.

The projects will have a “long and successful journey”, the sustainability of which will guarantee a “transformative effect”, he noted.

Chancellor Juan Carlos Holguin He thanked the Spanish authorities and requested the corps. “I would like to ask you to consider renewing this program,” the chancellor said.

Sector with investment

The corps stressed that there are projects to be edited 20 provinces And at the municipal level, interventions were made in 72 of the existing 221 cantons. Azuay is the province with the most interventions, a total of 7 projects.

He also highlighted priorities in case of emergency, such as in WomanAfter the April 2016 earthquake. Resources were allocated for the renovation and acquisition of furniture for 43 health centers in that province.

Simon Cave, The finance minister, explained that USD 33 million was for projects in the education system, including the construction and rehabilitation of infrastructure. USD 11,400,000 went to university projects; USD 8,500,000 in other projects for acquisition of medical equipment in earthquake affected areas.

The Development Bank for Latin America The CAF supported the program as a fundraiser, raising assets to USD 54.8 million. “We look forward to working hand in hand with our partners,” said Sergio Diaz, CAF’s executive president.

The rest of the fund was about 100,000 USD, which was used to buy a trio of polio vaccines for minors.

Special plan

According to authorities, the three are the most outstanding projects for their “impact” and convenience. This is through strengthening the Geophysical Institute of the National Polytechnic School, seismology and modernization of volcanic services. Rehabilitation of 43 health centers in Manabi and equipping of energy centers of scientific and technological centers at Balja, Cuenca University.



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