Ecuador Signs Another China Loan

Ecuador’s Finance Ministry has signed an $80m loan with the Export-Import Bank of China, it says. The loan has a 20-year maturity and a 2.0% interest rate. The loan will be used by the city of Quito to expand the Simon Bolivar highway. The loan follows a $2bn dollar 8-year facility agreed between Ecuador and the China Development Bank in December, the most recent in a string of lending to Ecuador by Chinese entities.