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.
Road in the area around Mindanao in the Philippines will benefit from the provision of a loan worth US$380 million. This funding package is being supplied by the Asian Development Bank (ADB). The loan will be used for the Improving Growth Corridors in Mindanao Road Sector project. This is intended to improve and upgrade up to 280km of roads in the area. A further $123 million is being provided by the Philippines Government for the work, which will cost $503 million in all.
The Ugandan Government has unveiled plans to improve its road connections with its northern neighbour South Sudan. To fund the construction project, the Ugandan Government has been seeking a loan worth US$210 million from the Islamic Development Bank (IDB). The terms of the loan arrangements have yet to be revealed however. The aim of the project is to improve the road link running through Rwekunye, Apac, Lira and Acholibur. Better transport links form part of a much wider programme of integration between E
A funding package has been secured that will help pay for a major road project in Indonesia. The project forms part of the Trans-Sumatra toll road and the funding comes in the shape of a loan worth US$600.45 million, which is being supplied by Indonesia’s Bank Negara. Hutama karya will use the loan to help pay for its work on the Terbanggi to Kayu Agung stretch of the Trans Sumatra road project.
