Ecuador and Vene Get IDB Support

Ecuador and Vene Get IDB Support

Bonds Structured Finance

The IDB has approved a $1bn line of credit for Ecuador to finance road infrastructure improvements. Of this credit line, the bank has authorized a first loan for $350m. The first loan of the line of credit is for 25 years, with a 6-year grace period and a Libor-based variable interest rate. Ecuadorian counterpart resources will total $16.5m for this initial phase of the program. Separately, the IDB approved a $200m loan for Venezuela’s Corporacion Electrica Nacional (Corpoelec) to improve electr

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