Photo: Presidencia de la República del Ecuador.
Ecuador has secured a USD 600 million credit line from China, announced Foreign Minister Gabriela Sommerfeld during an interview on July 30th. The financing was obtained following President Daniel Noboa’s official visit to Beijing in late June.
The funds are earmarked for energy sector projects, focusing on electricity generation and transmission. “If I’m not mistaken, it was USD 600 million… primarily for power generation and transmission,” Sommerfeld said.
The line of credit coincides with Ecuador’s ongoing negotiation with the International Monetary Fund (IMF), which approved a second review of its economic program and extended the agreement by USD 1 billion. The Minister stressed China’s influence within the IMF board as a supporting factor in the process.
In addition, Ecuador signed a USD 400 million agreement with Power China (Sinohydro’s holding company) for managing and operating the Coca Codo Sinclair hydroelectric plant, also negotiated during the Beijing visit.
Project-specific details regarding the USD 600 million credit remain pending. Sommerfeld emphasized that the visit to China also strengthened Ecuador’s broader commercial and diplomatic agenda with Beijing.
* Original text in Spanish. Translated by Large Language Model (LLM) technology.
Main Source:
Canciller Sommerfeld afirmó que China ha entregado una línea de crédito por USD 600 millones – Primicias Ecuador
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