DFC, Ecuador sign private investment agreement

Framework will “streamline support for projects that refinance predatory Chinese debt”

The US International Development Finance Corporation (DFC) and the Government of Ecuador have signed a framework to support debt refinancing and private investment in the country.

The new agreement will support up to $2.8bn of “future projects that will support development and economic growth in Ecuador”, with private sector investment offering a “robust alternative” to state-led investment.

“This framework agreement allows DFC to streamline support for projects that refinance predatory Chinese debt and help Ecuador improve the value of its strategic assets,” said DFC chief executive Adam Boehler.