Ecuador Power Utility Seeks IDB Aid

Ecuadorian power utility firm Transelectric forwaded a USD126 million financing request to the Inter-American Development Bank for 20 new projects that include the construction of new transmission lines and upgrade of existing substations in the Latin American country, BNAmericas reports. In the proposal, the company is seeking USD70 million from the bank, while the rest of the financing will be sourced from local counterpart funds.

About the author

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    Ivy Mungcal

    As former senior staff writer, Ivy Mungcal contributed to several Devex publications. Her focus is on breaking news, and in particular on global aid reform and trends in the United States, Europe, the Caribbean, and the Americas. Before joining Devex in 2009, Ivy produced specialized content for U.S. and U.K.-based business websites.