Foreign Relations Commission ratified two agreements with CAF to encourage and promote public and private investments

This day the parliamentarians belonging to the Foreign Relations Commission ratified two agreements destined to the areas of agriculture, education, health and employment; as well as the continuation of projects aimed at creating companies.

The first of them is the Constitutive Agreement of the Andean Development Cooperation The Constitutive Agreement of the Andean Development Corporation (CAF), which establishes the regulatory parameters that the countries interested in forming part of this multilateral organization must comply with.

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Foreign Relations Committee.| THE PAGE NEWSPAPER | Photo: Courtesy RREE.

said agreement its objective is to promote sustainable development and regional integration, through the provision of financial services to clients in the public and private sectors of the shareholder countries, allowing the country to become a member of the corporation.

Prior to the constitutive agreement, the Legislative Assembly had already ratified since the month of February of this year, the Subscription Agreement for Shares of Ordinary Capital, the Subscription Agreement for Shares of Guarantee Capital and the Agreement on Immunities and Privileges.

Following this, parliamentarians voted in favor of ratifying the Constitutive Agreement of the Multilateral Investment Fund III and the Administration Agreement of the Multilateral Investment Fund.

«The funds that will be granted with these agreements will be to generate better employment conditions and seek greater sources of opportunities. The Government, together with the Assembly, is seeking to promote development in the country”said the deputy for New Ideas, Raúl Chamagua.

For his part, deputy Francisco Villatoro indicated that: “These agreements will generate investment in the country and will bring positive things to our people, that is why we must ratify them”.

For the analysis and study of these initiatives, the parliamentarians had the technical advice of the staff of the Foreign Ministry and the Ministry of Finance, who explained to the work table the scope and benefits that these agreements will bring to our country.

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