The Latin American and Caribbean development bank CAF said it signed a $30 million credit agreement for the Cheno state government in Ecuador to fund sustainable development projects against the effects of climate change.
The financing will be used to fund sustainable development projects that include providing drinking water and building a public park with a capacity for more than 15,000 people, CAF said in a press release on Friday.
Chone Mayor Leonardo Rodríguez said that the credit agreement is very important for the state government, given it was the first time that it has taken out a loan with a multilateral entity.