Friday, 13 July 2007

ECUADOR-SPAIN: Cash from Ecuadorians in Spain to spur business

10 July 2007
MADRID - The Ecuadorian government backed a plan to convert remittances sent home by its citizens living in Spain into "a springboard for (Ecuador's) development".
Spain and Ecuador signed a cooperation agreement that will make possible the creation of micro-businesses and other projects.
Ecuadorian Emigration Minister William Murillo went to his country's Embassy in Spain to sign the accord with the UCMTA union with an eye toward better taking advantage of the remittances sent by Ecuadorians to their relatives back home. Murillo is in this capital as part of the political and business mission of Ecuadorian President Rafael Correa, who is due in Spain this week.

"We need the remittances not to be a source of money for consumption, but rather to be a springboard for the country's development," Murillo told Efe. [Read more]

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