Ecuador Funds Peoples Revolution

Quito, Jun 9 (Prensa Latina) The least developed Ecuadorian agricultural sectors will be benefited with a new economic mechanism through which the executive will grant massive microcredits to small and mid-sized farmers and buy their productions.

The initiative, entitled "economy of solidarity," aims to boost development of those sectors and, as President Rafael Correa said at the inauguration of the Undersecretaryship for Social and Solidarity Economy yesterday, it will help to "throw neoliberalism out."

The entity is an office of the economy and finance ministry, and forms part of the Ecuadorian government s plan to advance towards a "people s revolution," he stressed.

For Correa, the granting of the microcredits and other initiatives like the food program, and public purchase plan aim to benefit producers, farmers, and artisans.