|
|
|
|
Search: 
Latin American Herald Tribune
Venezuela Overview
Venezuelan Embassies & Consulates Around The World
Sites/Blogs about Venezuela
Venezuelan Newspapers
Facts about Venezuela
Venezuela Tourism
Embassies in Caracas

Colombia Overview
Colombian Embassies & Consulates Around the World
Government Links
Embassies in Bogota
Media
Sites/Blogs about Colombia
Educational Institutions

Stocks

Commodities
Crude Oil
US Gasoline Prices
Natural Gas
Gold
Silver
Copper

Euro
UK Pound
Australia Dollar
Canada Dollar
Brazil Real
Mexico Peso
India Rupee

Antigua & Barbuda
Aruba
Barbados
Cayman Islands
Cuba
Curacao
Dominica

Grenada
Haiti
Jamaica
Saint Kitts and Nevis
Saint Lucia
Saint Vincent and the Grenadines

Belize
Costa Rica
El Salvador
Honduras
Nicaragua
Panama

Bahamas
Bermuda
Mexico

Argentina
Brazil
Chile
Guyana
Paraguay
Peru
Uruguay

What's New at LAHT?
Follow Us On Facebook
Follow Us On Twitter
Most Viewed on the Web
Popular on Twitter
Receive Our Daily Headlines


  HOME | Ecuador (Click here for more)

Ecuador, China Edge Closer to Pact on Massive Loan

QUITO – The governments of Ecuador and China signed a memorandum of understanding on a loan from Beijing to Quito to finance a $2 billion hydroelectric dam in the South American nation, the official Andes news agency said Tuesday.

Signed in Beijing by Ecuadorian Finance Minister Maria Elsa Viteri and directors of China’s Export-Import Bank, the memorandum marks the end of a sometimes-difficult phase of the ongoing talks.

“We concluded the round of negotiations and statements of understanding were signed that take notice of the advances which have been achieved,” Viteri told Andes from China.

She characterized those advances as “important,” though without providing any details.

“The negotiation is not finished, but there is progress,” the finance minister said, suggesting that the deal for the loan could be finalized in the near future.

Viteri’s visit to China came amid heightened expectations after Ecuadorian President Rafael Correa publicly complained that Quito felt “mistreated” in the talks with Beijing.

Assuming success in the negotiations, the Chinese loan will underwrite 85 percent of the Coca-Codo-Sinclaire hydroelectric dam in the Amazon region, which is to be the largest facility of its type in Ecuador.

The power plant will have the capacity to generate 1,500 MW of electricity, allowing it to meet about 70 percent of domestic power demand in the Andean nation.

Quito has designated the Chinese firm Sinohydro as the chief contractor on the project. EFE
 

Enter your email address to subscribe to free headlines (and great cartoons so every email has a happy ending!) from the Latin American Herald Tribune:

 

Copyright Latin American Herald Tribune - 2005-2019 © All rights reserved