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.
Financing has been secured to help pay for rebuilding of the Dome to Kitase road in Ghana’s capital Accra. A US$24 million loan from the Kuwait Fund for Arab Economic Development (KFAED) will pay for the work. Upgrading the route will help improve transport on the northern side of Accra and develop the local economy.
Abu Dhabi Fund for Development (ADFD) has agreed to provide a loan of AED183.50million (US$49.95million) for the construction of the Tirana-Elbasan road project. The completed works will shorten travelling time between both cities contributing to Albania's economic growth through the support of domestic trade exchange.
Plans are moving forward with regard to the Iloilo-Guimaras-Negros Bridge in the Philippines. Building the 13.2km bridge is expected to cost up to US$457 million and take three years to be completed once the construction gets underway. The bridge will be built in the Visayas Region of the Philippines and would link a number of islands, replacing the ferry services in use at present. Chinese expertise may be employed to help design and construct the link while South Korean sources could deliver a portion of
