France, IDB Inject $327M Into Ecuador Transportation Systems

Law360, New York (December 5, 2012, 5:21 PM EST) -- In two separate deals that will kick-start new public transportation systems in Ecuador, the Inter-American Development Bank and the government of France have offered a cumulative $327 million in loans for proposed rail and streetcar projects, according to Wednesday statements.

The IDB has approved $200 million in a construction loan for a metro system in the city of Quito, which is expected to save the government $68 million in service operating costs over the long term and also help ease traffic issues in the area. Meanwhile,...
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