China’s national development bank has inked a $1 billion loan with Ecuador that will be used to help fund key economic investments. Plans call for $200 million of the proceeds to be spent on oil projects. The remaining $800 million will be used for investment in other sectors including infra-structure, mining and telecommunications. The Ecuadorean finance ministry says the four-year loan, signed in Beijing earlier this week, includes a six-month grace period and carries 6% annual interest.
展开▼
