Quito, February 26 (TeleSUR-RHC)-- The National Financial Corporation (CFN) has revealed that it has granted more than $4.2 million in credits to entrepreneurs and businesses in the last 8 years. Some 8,100 credits were provided to new beneficiaries in the last year alone.

Maria Soledad Barrera the President of CFN, said that the issuing of these credits are key to strengthen those sectors working to diversify the national economy.

"All sectors involved in diversifying the economy are eligible, and we are working hard so that financed projects can contribute generate more exports, substitute imports, because they are products with added value. These are basically the three conditions,” Barrera said. “This applies to the textile sector, the manufacturing sector, the sector of processed foods, the metals sector. All of them are eligible. Credits begin at $50,000 per business. We are including small, medium and large businesses, with $25 million to $50 million limit."

The CFN has allocated approximately $30 million in credits to the textile industry, as it has been identified as a strategic sector for stimulating the national economy.