Ecuador Gets $1.3B Loan From China Bank

Ecuador has obtained the first loan tranche of $1.3 billion fromChina Development Bank Corp.,The Wall Street Journalreports. The offering is part of a $2 billion loan deal signed in June in Beijing.

The first tranche will be used by the Andean nation's finance ministry. The remaining $700 million will be used for funding investment projects in Ecuador in partnership with Chinese companies in the infrastructure, energy and agricultural sectors

Click here for the story fromThe Wall Street Journal.