Infrastructure and Technology delegates its representation before the CFN board of directors

The Ministry of Infrastructure and Technology delegated the head of the Vice Ministry of Services and Transport to act as the Minister’s permanent delegate to the Board of Directors of the National Financial Corporation B.P. The decision is contained in Ministerial Agreement MIT-MIT-26-44-ACU, signed in Quito on September 7, 2026, by Minister Roberto Xavier Luque Nuques and published in the Official Registry No. 378 on Monday, September 28, 2026, in the section of Agreements of the Executive Branch, page 6.

The framework: the recomposition of the board

The agreement is based on Executive Decree 480 of August 26, 2026, which replaced Article 5 of Executive Decree 868 of December 30, 2015, the regulation that reorganized the National Financial Corporation B.P. as a legal entity of public law within the Public Financial Sector. The board is defined therein as the highest authority of the entity and is composed of:

• A permanent delegate of the President of the Republic, who presides over it and holds the casting vote.
• The Minister of Economic and Productive Development, or their permanent delegate.
• The Minister of Environment and Energy, or their permanent delegate.
• The Minister of Infrastructure and Technology, or their permanent delegate.
• The Secretary General of Public Administration, Planning and Cabinet, or their permanent delegate.

The General Manager of the National Financial Corporation attends the board with a voice but without a vote. The agreement also invokes Article 373 of the Organic Monetary and Financial Code, which establishes the composition of the boards of public financial entities, and Article 17 of the Statute of the Legal-Administrative Regime of the Executive Branch, which requires that ministerial delegations be granted by ministerial agreement and published in the Official Registry.

Obligations and limits of the delegate

The text imposes a series of concrete duties on the head of the Vice Ministry of Services and Transport:

• Coordinate the necessary actions to obtain the suitability qualification before the competent control body, the Superintendency of Banks.
• Coordinate continuously with the delegating authority and report semi-annually to the highest authority of the portfolio regarding actions, follow-ups, and sessions before the board.
• Observe the current legal framework, with civil, administrative, and criminal liability in the exercise of the delegation.
• Accept that the delegator may resume the delegated powers whenever deemed appropriate, without the need to reform or repeal the agreement.

The execution of the agreement is entrusted to the head of the Vice Ministry of Services and Transport themselves, or whoever acts in their stead, and its notification to the Board of the National Financial Corporation B.P. The instrument is effective from its signing, without prejudice to its official publication.

Background and Prior Proceedings

The file was initiated with Official Letter No. CFN-B.P.-SEG-2026-0111-OF dated August 26, 2026, through which the General Secretariat of the Corporación Financiera Nacional B.P. requested the documentation from the Minister of Infrastructure and Technology to manage the suitability qualification before the Superintendency of Banks, based on the designation established by Executive Decree 480.

The issuing portfolio also carries two recent mergers: Executive Decree 102 of August 15, 2025, which absorbed the Ministry of Urban Development and Housing and the Secretariat of Public-Private Investments, and Executive Decree 426 of June 18, 2026, which integrated the Ministry of Telecommunications and the Information Society and renamed the entity as the Ministry of Infrastructure and Technology. Minister Roberto Xavier Luque Nuques had been appointed via Executive Decree 137 on September 16, 2025.

The same logic of delegations was applied in the Ministry of Economic and Productive Development, which on September 11, 2026, published Agreement MDEP-MDEP-2026-0025-A so that the Undersecretary of Monetary, Financial, Insurance, and Securities Policy may represent it before the same board.

Impact

With this agreement, it is defined who exercises the representation of the Executive on the board of the main public development banking entity, a seat with a vote on credit policies and the financial management of the Corporación Financiera Nacional B.P. The designation enables the delegate to intervene in board decisions, but their effective participation is conditional upon the suitability qualification that must be granted by the Superintendency of Banks, a process that the agreement itself orders to be managed.

Source: Official Registry No. 378, Monday, September 28, 2026, Executive Branch – Agreements, p. 6 (official reference: MIT-MIT-26-44-ACU).