IDB Lends Ecuador $200M in First of Two Policy-Based Loans

The Inter-American Development Bank’s executive board has approved for Ecuador a $200m loan under its Policy-Based Loan modality, the first of two such operations, according to a statement.

• This loan matures in 20 years, with a 5.5-year grace period and an interest rate based on SOFR
  • The IDB did not offer details on the subsequent loan to Ecuador
• Proceeds from the loan will strengthen tax collection by helping expand electronic tax payments, define prioritization in public investment and implement results-based management to reduce chronic infant malnutrition, among other goals

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