Scott Nathan, the Executive Director of the United States International Development Finance Corporation (DFC), recently concluded a visit to Ecuador. His agenda included meetings with government officials, current and potential partners, and private sector executives. Ecuador represents the largest DFC market in the Western Hemisphere, with $1.7 billion invested.
During his stay, Nathan engaged in discussions with President Lasso on increasing DFC's investment in private sector-led economic development. The focus is on improving livelihoods and enhancing stability and economic inclusion within Ecuador.
"DFC is investing with private sector partners who are building high-quality infrastructure, more resilient health systems, and strengthening food security," said Nathan. "We are investing to provide access to clean, reliable energy and to support small businesses, which are vital for the Ecuadorian economy."
Nathan visited Axxis Hospital as part of his itinerary. DFC has contributed over $18 million to expand the hospital's capacity to deliver quality care to women and children. Additionally, Nathan traveled to Latacunga to explore potential financing lines through local institutions aimed at promoting rural community development. The Fernando Daquilema Savings and Credit Cooperative will receive a $9 million loan guarantee from DFC to enhance loans for indigenous businesses and women-led ventures in rural areas.
From 2018-2021, under Ecuador’s request, the Department of State’s Power Sector Program (PSP) provided advisory support on designing competitive tenders for power sector investments. This cooperation was instrumental in facilitating projects like the El Aromo solar project and Villonaco II/III wind project.
Ecuador showcases DFC’s diverse initiatives ranging from infrastructure projects to renewable energy financing and healthcare improvements. In May, DFC approved a $150 million loan for Yilport Terminal Operations for modernizing Puerto Bolívar's container terminal. It also financed $144 million for El Aromo solar project development.
Further supporting environmental conservation efforts in Ecuador, DFC issued a $656 million political risk insurance policy that aids a debt conversion operation generating approximately $323 million for marine conservation in the Galapagos Islands over 18.5 years.