IDB approves loans for Argentina, Ecuador and Paraguay

 

• The Inter-American Development Bank (IDB) approved on Tuesday a total of $970 million in loans for Argentina, Ecuador and Paraguay to underpin their efforts to battle against the COVID-19 pandemic.
• The bank approved a $470 million loan for Argentina, a $250 million loan for Ecuador and a line of credit of up to $250 for Paraguay.
• Argentina’s $470 million loan, maturing in 2043, will be used to secure access to COVID-19-related medical attention for 17 million people. The $250 million loan to Ecuador will be used to finance a project seeking to improve the detection and monitoring of COVID-19 infections.
• Paraguay’s new $250 million credit line will be executed through three loans. Only the first one, for $105 million, has been approved. It will be used to build a sewer and clean water project for 92,000 households in the Cuenca Lambaré sector of the metropolitan area of Asunción. The interest rate for these loans will be  based on Libor. 

(Source: Latinfinance)