World Bank approves $150m to support COVID-19 vaccination in Ecuador

The World Bank has approved $150 million in additional financing for the COVID-19 Emergency Response Project in Ecuador. This is the first World Bank-financed operation in Latin America and the Caribbean for COVID-19 vaccine procurement. The new resources will be used to purchase and distribute vaccines and to support pandemic management in the country.

With the approved financing, the government expects to immunize approximately 30% of the population. The additional financing is a variable rate, fixed-spread loan with a maturity period of 18 years, including a five-year grace period.