Ecuador roadworks to be funded by US$367mn Chinese loan
The Ministry of Transport and Public Works in Ecuador (MTOP) has announced that a Chinese loan of US$367 million will fund the restoration of the Catamayo-Gonzanama-Sozoranga-Macara and Celica-Cruzpamba-Y del Muerto roads.
March 21, 2014
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The Ministry of Transport and Public Works in Ecuador (MTOP) has announced that a Chinese loan of US$367 million will fund the restoration of the Catamayo-Gonzanama-Sozoranga-Macara and Celica-Cruzpamba-Y del Muerto roads.
Plans are now well in hand in China's Hebei and Zhejiang Provinces to build new highway connections and boost transport infrastructure. In Hebei Province a total of 12 highway projects worth an impressive US$9.66 billion will commence in 2011. These new highways will add a total of 852km to the network of the province. In addition, the authorities in Hebei Province are detailing additional plans to continue to develop the highway network with a target set of 6,762km in total by the end of 2015.
Croatian national motorways company Hrvatske Autoceste (HAC) is receiving funding in the shape of a €100 million loan from Hypo Alpa Adria Bank and Hypo Alpa Adria International, from Klagenfurt in Austria. A guarantee for the loan is being supplied by the Croatian Government. The loan is approved over a five-year repayment period and with a 6.99% interest rate. Funding will be used for liquidity and regular payments to construction firms. The move increases HAC's gearing as it has so far borrowed €80 milli
Much of the funding for the completion work necessary for Pakistan’s M-4 Highway is being provided by the Asian Development Bank. This will come in the shape of a loan worth US$100 million. A further $34 million in funding is being provided through a grant from the Department for International Development (DFID) in the UK.
The highway is of enormous economic importance for Pakistan and the region as it will boost trade and assist with political stabilisation of the region. The M-4Highway forms part of an
