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Lender CAF disburses $250 mln credit to Ecuador

Tue Nov 27, 2007 5:53pm EST

QUITO, Nov 27 (Reuters) - The Andean development Corporation, or CAF, has granted Ecuador a $250 million loan to finance a poverty-reduction program, the multilateral organization said on Tuesday.

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The CAF did not specify the terms of the credit.

The CAF has said it plans to disburse $1 billion in loans per year to Ecuador to finance public and debt projects in the next four years.

The CAF, which is the Andean community's financing arm, has become one of Ecuador's main lenders as the leftist government wants to cut financing ties with the World Bank and the International Monetary Fund. (Reporting by Carlos Andrade; writing by Alonso Soto; editing by Leslie Adler)

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