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.
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