Ecuador and China
News

Ecuador turns to Chinese to finance, build troubled hospital project

Bnamericas Published: Wednesday, October 07, 2020
Ecuador turns to Chinese to finance, build troubled hospital project

Ecuador’s public works ministry (MTOP) is set to use funds from an US$800mn loan from China Development Bank to carry out a controversial hospital project in Manabí province.

The controversy relates to the contract to build a 5,925m2 hospital as part of the government’s reconstruction efforts in Manabí following the devastating 2016 earthquake, which has become the focus of a investigation into graft.

Last week a judge ruled that the MTOP would not be allowed access to US$5.8mn in frozen assets related to the corruption probe, where members of the consortium Pedernales-Manabí are being charged with asset laundering in relation to the US$16mn hospital.

In response, the ministry will award the contract to China CAMC Engineering next month, with the aim of finishing the hospital within a year, MTOP said in a release.

Subscribe to the most trusted business intelligence platform in Latin America. Let us show you our solutions for Suppliers, Contractors, Operators, Government, Legal, Financial and Insurance.

Subscribe to Latin America’s most trusted business intelligence platform.

Other projects

Get key information on thousands of projects in Latin America, from current stage, to capex, related companies, key contacts and more.

Other companies

Get key information on thousands of companies in Latin America, from projects, to contacts, shareholders, related news and more.