LatinNews Regional Monitor: Andean Group - 26 November 2019

* Ecuador’s economy & finance ministry and France’s development agency (AFD) have signed a financing agreement for US$80m for the development of Ecuador’s housing project, ‘Casa Para Todos’. The initiative aims to grant a “proper and dignified living” to 6,500 Ecuadorean families in poverty or vulnerability, in particular for people with disabilities, women in situations of violence, and single parents. Clotilde Boutrolle, AFD representative in Ecuador, said it is the first time the AFD has participated in a programme with an entirely “social” approach and stressed that 70% of the financing will go on the construction of houses. This AFD financing is part of a parallel financing between the AFD and the Inter-American Development Bank (IDB), to finance the Casa Para Todos project. The loan is under a 20-year term, with a grace period of 5 years, and an interest rate of around 4%.

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