Meetings with strategic organizations in Canada lead to financing for investments in Ecuador

By Communication Secretariat of the Presidency

President Daniel Noboa's official agenda in Canada continues with high-level meetings.

After his outstanding participation in the Ecuador Day event, the Head of State held a meeting with the Canadian Council for the Americas and with investors in the mining sector.

At both meetings, approaches were established with organizations for strategic alliances for the benefit of the country.

The National Government also signed letters of intent to receive financing, for 120 million Canadian dollars, aimed at clean energy projects. And six responsible mining investment contracts were signed for 4.8 billion US dollars.

Dialogue with the Canadian Council for the Americas

The President of the Republic attended a meeting with leaders of the Canadian Council for the Americas, Canada's first public forum for dialogue and thought leadership with the main political, economic and social actors in the hemisphere.

Representatives of mining companies participated in this meeting, and Ecuador expressed its interest in having the support of the council to promote responsible extraction of mineral resources.

Furthermore, he insisted on his invitation to invest in projects that meet high environmental and social standards, as well as in contributing to local development and employment generation, thus contributing to the sustainable development and economic well-being of Ecuador.

In the dialogue, the president also highlighted the main achievements of his government after completing the first 100 days in office. Especially in terms of security and economy, pillars on which a New Ecuador is being built.

At this meeting, the Ecuadorian Foreign Minister, Gabriela Sommerfeld, signed the letter of intent for financing for 120 million Canadian dollars with the Canadian government to support Ecuador's energy transition through the sovereign loan program of the Ministry of Global Affairs of Canada.

Additionally, there is the possibility of receiving technical assistance of up to 6.5 million Canadian dollars to support the Ministry of Energy and Mines.

Investments in the mining sector come to fruition

Daniel Noboa, during this day, also met with Canadian investors. At the high-level meeting, the President explained that the new vision of the National Government is to demonstrate that Ecuador is a country with high potential for foreign investment, the generation of local employment, thanks to economic policies that generate confidence in the international market. .

In this space, the importance of promoting a trade agreement with Canada that will increase Ecuadorian exportable supply by 8% and generate nearly 40,000 jobs was analyzed, as detailed by the Minister of Production, Foreign Trade, Investments and Fisheries, Sonsoles García.

Furthermore, after this meeting, the Ecuadoran government, through Minister García, signed six investment agreements for more than US$4.8 billion.

These commitments formally express the mutual interest of the Ecuadorian State and investors, to develop projects in the mining sector, with a sustainable, responsible and long-term business approach.