QUITO — Inter-American Development Bank Group (IDB Group) President Ilan Goldfajn today announced $7.5 billion in support from the institution to accompany Ecuador’s development over the next five years. This financial package could reach up to $10.5 billion, depending on the evolution of enabling conditions for investment and implementation.
The support, aligned with the new Country Strategy between Ecuador and the IDB Group, will combine sovereign financing and private-sector operations through IDB Invest and IDB Lab, as well as technical assistance and support for reforms to foster growth and improve the lives of Ecuadorians.
Ecuador Crece: Supporting the Implementation of the Ecuador 2040 Agenda
As part of this support, the IDB Group launched Ecuador Crece, a new initiative to advance the implementation of the Ecuador 2040 Growth Agenda promoted by the government of Ecuador. Ecuador Crece is part of LAC Crece, an IDB Group initiative designed to support private investment-led growth across the region.
“Ecuador has defined a clear agenda to accelerate growth. Our commitment is to support that agenda with financing, knowledge, and technical assistance. Ecuador Crece will be the initiative to help turn the 2040 Agenda into concrete results for Ecuadorian families and businesses,” President Goldfajn said.
Ecuador Crece will focus its support on sectors with high growth potential, including energy, mining, agribusiness, manufacturing, tourism, and housing. It will also promote improvements in regulation, access to finance, logistics infrastructure, human capital, and security.
Expected results from Ecuador Crece include expanding access to housing and mortgage financing for 23,800 families, training and certifying 265,000 people, and supporting approximately 500 small and medium-sized enterprises to increase their exports.
New Guarantee to Support the Reduction of Chronic Child Malnutrition
As part of the support for the country, President Goldfajn also announced that the IDB Executive Board today approved a policy-based guarantee of up to $250 million to support Ecuador’s efforts to reduce chronic child malnutrition. The guarantee will back the country’s issuance of a results-linked financing instrument, expected to mobilize approximately $500 million in international capital markets.
Through this operation, the IDB will support Ecuador in closing structural gaps in governance, financing, and health service delivery to achieve sustained reductions in chronic child malnutrition. The program will benefit 250,000 pregnant women and 500,000 children under the age of two, with special attention to vulnerable populations.
Broad Agenda During President Goldfajn’s Visit
The announcements were made during President Goldfajn’s visit to the country, where he met with government authorities and private-sector representatives. Together with President Daniel Noboa, he participated in the launch of the Ecuador 2040 Growth Agenda and visited the Miti-Miti social housing program, which the IDB has supported since its initial stages. For this program, the IDB also recently approved another $250 million guarantee that enabled the mobilization of $500 million for mortgage financing.
About the IDB Group
The Inter-American Development Bank Group (IDB Group) is the leading source of financing and knowledge for improving lives in Latin America and the Caribbean. It comprises the IDB, which works with the region’s public sector and enables the private sector; IDB Invest, which directly supports private companies and projects; and IDB Lab, which spurs entrepreneurial innovation.
Rafael Alejandro Mathus Ruiz
Communications Lead Spec-Press Med
Andres Cavelier
Communications Specialist
