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LatinNews Regional Monitor: Andean Group - 12 June 2019

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In brief: Ecuador

* The World Bank has announced the approval of a US$500m loan to support the Ecuadorean government’s prosperity plan. The loan will establish funding and technical assistance and seek to revive economic growth, prioritising three areas: inclusive growth, the protection of vulnerable sectors, and improved institutional and environmental sustainability. The repayment of the loan, which is provided over 30 years, with a nine-year grace period, will have an interest rate of 3.97%. Ecuador’s Economy & Finance Minister Richard Martínez underlined the announcement of the loan as a sign of international confidence in Ecuador.