Ecuador Gets $62.2m IDB Loan

Ecuador has secured a $62.2m 20-year loan from the IDB for the renewal of the TAME Línea Aérea de Ecuador aircraft fleet. The deal carries a national government guarantee, has a one-year grace period, and pays a variable interest rate. “The program will facilitate integration and connectivity in Ecuador, especially among the country’s most isolated and disadvantaged areas, through improvements in the operations and commercial air transportation services provided by TAME,” says IDB team leader Esteban Diez-Roux. “The aircraft fleet will be renewed and the company’s business capacity will be strengthened,” he adds. The deal supports the purchase of two Embraer ERJ-190AR aircraft to modernize TAME’s fleet and improve the provision of air services.