Ecuador Signs $136 Million Loan Deal With BNDES for Irrigation

Ecuador signed a $136 million loan contract with Brazil’s state development bank BNDES to help fund the construction of an irrigation project, the Andean country’s Finance Ministry said today in a statement on Twitter.

The project, located in the Daule-Vinces area of Ecuador’s coastal Guayas and Los Rios provinces, includes the construction of about 330 kilometers (205 miles) of canals, the ministry said in a separate statement sent by e-mail. The ministry didn’t give details about the terms of the loan.