China to loan Ecuador US$ 1 billion

来源:百度文库 编辑:神马文学网 时间:2024/03/29 01:14:37

China to loan Ecuador US$ 1 billion

08:32, August 18, 2010      

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China will loan a billion dollars to Ecuador for telecommunication and hydropower projects, and a Chinese company is interested in investing another billion in irrigation and agricultural projects, Ecuadoran government said Tuesday.

"We expect to be signing this billion dollar credit at the end of the month," said Maria Dolores Almeida, the vice-minister of finance.

She said the credit would be in addition to a 1.7 billion dollar loan from the Exim-bank of China for the construction of a 1,500 megawatt hydroelectric plant.

"With these resources we are going to be able to finance investment projects that have been given priority," she said.

Planning Minister Rene Ramirez said the Chinese funds would be used to finance telecommunications, energy, oil, irrigation and agriculture programs.

He added that the Chinese company CAMC, which makes construction equipment, wants to invest another billion dollars in silos, grain distribution centers and irrigation systems in the South American country.

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