* The World Bank has agreed to loan US$300m to Ecuador’s national development bank, Corporación Financiera Nacional (CFN), which will be used to boost the availability of credit to micro-, small-, and medium-sized businesses (MSMEs). This credit will be awarded to MSMEs via Ecuador’s private banks. CFN’s president, Jorge Andrade, said that “this agreement is a milestone in support of Ecuador’s economically active sectors, reinforcing the base of the productive pyramid which drives national development”.
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LatinNews Daily - 12 October 2023
In brief: Ecuador receives World Bank loan for MSMEs
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