Narrative
Full Description
Project narrative
On February 13, 2009, China Development Bank and the State Bank of Ecuador signed an Indicative Terms and Conditions sheet, which outlined a potential 18 million USD loan for the completion of the Quitumbe Bus Terminal, the acquisition of road maintenance equipment, and other civil works in Quito. The potential loan terms discussed in the sheet included the following: a maturity period expected to be three years, a commitment and management fee, a six month LIBOR-based interest rate, and one disbursement for the full loan amount. The Ecuador Ministry of Finance was to provide a loan guarantee. The Quitumbe Bus Terminal has since been completed, though it is unclear if this was with Chinese financing, as there is no evidence of a loan agreement being signed. On the same day, several other cooperation agreements were signed, including two ETCAs (see #35851 and #88169) and a 50 million RMB credit line to boost agricultural trade and production (ID #35866).