Washington: The World Bank is allocating $150 million to Ecuador to help the country deal with the consequences of the powerful 7.8-magnitude earthquake that struck the country last week.
"The funding provided by the World Bank will serve to support emergency recovery and forms part of the multi-lateral loan package that Ecuador has activated to assist those populations that most need it," Francisco Borja Cevallos, Ambassador of Ecuador in Washington, said as quoted in a World Bank release.
Vice President of the World Bank for the Latin America and the Caribbean Region Jorge Familiar, alongside the Ambassador of Ecuador in Washington, signed an agreement on the $150 million loan to Ecuador on Friday.
On April 16, Ecuador was hit by a 7.8-magnitude earthquake, with its epicenter located near the town of Pedernales in Manabi province. Over 600 people died as a result.
QNA
