Ecuador Receives World Bank Funds

The World Bank has agreed to provide a $100m, 25-year loan with a 5-year grace period to Ecuador’s Manta municipality, it says. The interest rate was not disclosed. The loan comes from its International Bank for Reconstruction and Development (IBRD) and will be used for water, sanitation and transportation projects, with a total cost of $115.6m. The municipality is to add the other $15.6m. Developments targeted include water availability, water and sewage services, and street improvements.