International Business Times – Ecuador, China sign $1 billion cash-for-crude loan deal
Date: Sep 1, 2010
Ecuador signs second loan in two months with China:
Ecuador and China signed on Tuesday a $1 billion loan deal as the Asian giant is pushing ahead with the policy of securing energy resources in Latin America and Africa.
The fresh loan deal, which Ecuador’s government signed in Beijing with the China Development Bank, comes just two months after Ecuador and the Export-Import Bank of China signed a $1.7 billion deal for financing a huge hydroelectric project in Ecuador.