Chinese government pledges 3 billion RMB loan to Government of Ecuador

During Xi Jinping's visit to Ecuador on November 17, 2016, a 3 billion RMB loan was pledged to the government of Ecuador, to have a maturity period of 20 years and a 2% interest rate. In February 2017, President of Ecuador Rafael Correa suggested this loan could be used for the rebuilding and modernization of Pedernales following the April 2016 earthquake. However, a loan contract associated with this amount has not been signed.

Additional details

Reporting about Xi Jinping's November 17, 2016 visit indicate 11 agreements were signed. Of these agreements, the text of six are available at http://sitrac.cancilleria.gob.ec/sitrac/Consultas/Busqueda.aspx (search "CHN" and sort by signed date), and five are listed on "中国同厄瓜多尔的关系." Neither of these sources include a 3 billion RMB loan contract was signed. It may be that it was provided in one of the agreements not available, though reporting around the trip does not mention such an agreement, and a subsequent project funded by such a loan has not been identified. As such, project has been set to "pledge," due to apparent lack of loan contract. "Las primeras viviendas del reasentamiento Ciudad Jardín de Pedernales se entregarán en abril" was published February 28, 2017.

Number of official sources

2

Number of total sources

4