Ecuador seeks to break out of the labyrinth of oil pre-sales with China
Ecuador is still struggling to divest itself of oil pre-sales. Although there are contracts with the oil creditor companies, the Ecuadorian government is looking for a way to change the situation to its advantage. The business meant a loss of almost US$5,000 million for the country.
China to donate USD 60 million to build 2,932 housing units in Ecuador
On April 11, the Ambassador of the People’s Republic of China in Ecuador, Chen Guoyou, joined the President of Ecuador, Guillermo Lasso, in a special program announcing the delivery of 2,932 houses for people who lost their homes in the earthquake in Esmeraldas and Manabí.
Ecuador terminates contract with China International Water & Electric Corporation
Corporación Eléctrica del Ecuador (CELEC) is a state-owned company engaged in the generation, transmission, distribution, commercialization, import and export of electricity. CELEC completed the construction contract for the civil works of the Toachi Pilatón hydroelectric project, signed on December 24, 2020, with China International Water & Electric Corporation (CWE).
Ecuador and China ratify their bilateral relationship
On March 3, Chen Guoyou, Ambassador of the People’s Republic of China in Ecuador, met with Ecuadorian Foreign Minister Juan Carlos Holguin at the headquarters of Ecuador’s Ministry of Foreign Affairs. During the meeting, the officials reviewed several issues of bilateral and global interest.