October 28, 2022
On October 27, the Japan International Cooperation Agency (JICA) signed a loan agreement with the Republic of Ecuador in Quito to provide a Japanese ODA loan of up to 23 billion yen as part of the COVID-19 Crisis Response Emergency Support Loan program.
The program will support the Ecuadorian government’s efforts in implementing policy and institutional reforms in the areas of social protection and health through budgetary support for those parts of the country where the socio-economic impact of the spread of COVID-19 is most serious. By doing so, it will contribute to the promotion of the economic stabilization and development efforts of the Republic of Ecuador. This program will also therefore contribute to the achievement of SDGs (Sustainable Development Goals) Goals 2 (Zero hunger), 5 (Gender equality) and 10 (Reduced inequalities).
This loan is the first form of co-financing with the Inter-American Development Bank (IDB) in the health sector in Ecuador under the co-financing framework CORE (Cooperation for Economic Recovery and Social Inclusion) with IDB. This program is also expected to improve the results of Japan's cooperation in the areas of social protection and health through the promotion of cooperation with the IDB.
Details for the project are provided below.
1. Terms and Amount of Loan
|Annual interest rate (%)||Repayment
|COVID-19 Crisis Response Emergency Support Loan||23,000||0.01||15||4||General untied|
2. Executing Agency
Ministry of Economy and Finance
Address: Av. Amazonas entre Pereira y Unión Nacional de Periodistas Plataforma Gubernamental de Gestión Financiera. Pisos 10 y 11, Quito, Ecuador
3. Planned Implementation Schedule
(1) Completion of project: April 2023– when the disbursement is completed