Ecuador Lays Out Financing Plan For $1.5B Quito Subway

Law360, New York (November 27, 2012, 5:03 PM EST) -- The government of Ecuador on Monday finalized its a $1.5 billion plan to build its capital city's first subway system using a combination of federal funds and more than $700 million in loans from European and Latin American development banks.

At a press conference in Quito, Ecuador, on Monday afternoon, city and national officials pledged their support for the project, which will receive up to $749.5 million in funding from the country's government, plus another $200 million to $250 million each from the Inter-American Development Bank,...
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