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.
The World Bank and the Indian state of Kerala's Department of Economic Affairs have signed a loan agreement worth US$215.1 million (INR 11.66bn) to finance the second phase of the Kerala State Transport Project (KSTP). In its 2013/2014 budget, Kerala allocated $51.65 million (INR 2.8bn) for the implementation of the second phase of KSTP. In the second phase, about $443.3 million (INR 24.03bn) will be spent to develop 367km of state highways spread over eight corridors built to international standards.
Chinese funding will help deliver the construction of a major new road project in Senegal. A loan worth US$704.6 million will help finance the construction of Senegal’s new 113km highway connecting Touba and Thiès. The contractor China Road and Bridge Construction (CRBC) will carry out the construction works, which is expected to require 45 months to complete. The loan will be paid back over a 25-year period using toll revenues.
Serbia’s Ministry of Construction has plans to rebuild and upgrade some 1,000km of roads between 2014 and 2018. The work is expected to cost €300 million. Serbia’s Government is looking to the EU for the ratification of a previously discussed loan worth €300 million. This loan has been approved by the World Bank, the EBRD and the European Investment Bank (EIB). The money will be used to fund road rebuilding work, with one of the first projects to tackle being the improvement of the Zrenjanin-Zabalj route.
