The World Bank Group approved a USD 800 million financing program to expand access to resilient infrastructure finance for Ecuador’s local governments and public service providers. Banco de Desarrollo del Ecuador B.P. will implement the program in three phases over 10 years, with investments expected to benefit more than 3 million people and mobilize up to USD 750 million in private capital. The first phase comprises USD 200 million in World Bank financing and USD 50 million in parallel co-financing from the Spanish Agency for International Development Cooperation. It will support energy, transport and sustainable mobility, urban development, disaster risk management and affordable housing, while funding project preparation and strengthening the investment planning and implementation capacity of Banco de Desarrollo del Ecuador B.P. and subnational governments.