Riobamba fire triggers emergency credit and tax relief measures

Authorities in Riobamba, Ecuador, are implementing recovery measures following a major fire in the city's historic center that damaged approximately 2,000 square meters and five buildings, including century-old heritage structures. The fire has left 15 people displaced and caused significant economic losses, with a single establishment estimated to have lost around USD 2 million.

To support recovery, BanEcuador has enabled preferential credit lines for affected businesses. Additionally, the Cantonal Emergency Operations Committee (COE) is evaluating potential tax relief, such as reductions or exemptions on property taxes and other municipal fees. The Ministry of Economic and Social Inclusion is also reviewing the distribution of contingency bonds.

The Chimborazo Provincial Prosecutor's Office is investigating the cause of the fire, with assistance from the Quito Fire Department. The investigation will examine whether negligence or omissions occurred regarding the fire's origin and the emergency response, including water availability. Meanwhile, the National Institute of Cultural Heritage has been called to assess and protect the damaged historical structures.