IDB lends USD 280m to aid Ecuador energy sector- Renewables Now
Development Bank (IDB) announced on Friday it will give Ecuador a USD-280-million (EUR 247.9m) loan to transform, diversify and improve its energy mix and increase the use of and access to renewable energy sources in the country.
More specifically, the money will be used for the implementation of various policy reforms in order to help the country to reach its climate change goals and consolidate its fiscal and external accounts.
The loan will also support increased efficiency, modernisation, innovation and sustainability of the local electricity supply chain as well as energy trading with neighbouring countries.
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