Ecuador to receive US$2 billion investment from China Development Bank

Ecuador signed off on Monday on a credit line for US$2 billion (S$2.7 billion) from the China Development Bank (CDB) to finance public investment, the Finance Ministry in the quake-hit Andean country said in a statement.

The first tranche, of up to US$1.5 billion, will be disbursed in the coming weeks.

In parallel, state-run oil company Petroecuador reached a future oil sales deal with Petrochina "at market price," the ministry added.

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