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INTERNATIONAL > Western Hemisphere

Japan promises $70 mil. loan to Ecuador to improve electric power grid

  • September 6, 2018
  • , Kyodo News , 7:08 p.m.
  • English Press

Japanese Prime Minister Shinzo Abe pledged Wednesday to offer Ecuador low-interest loans of up to $70 million to expand its electric power grid and promote the usage of renewable energy in the South American country.

 

During a meeting in Tokyo, Ecuadorian President Lenin Moreno Garces also expressed gratitude for Japan’s provision of a $4.7 million grant for disaster prevention. Japan and Ecuador have often suffered natural disasters, including earthquakes and tsunamis.

 

The Ecuadorian leader is visiting Japan to mark the 100th anniversary this year of the establishment of diplomatic ties between Tokyo and Quito.

 

Abe and Moreno agreed to promote cooperation in the fields of terrestrial digital broadcasting as well as information and communication technology, and to work to boost bilateral trade and investment.

 

Ecuador is a major exporter of bananas and cacao beans to Japan.

 

They also confirmed the two countries’ close cooperation in the international arena, including the United Nations, as former Ecuadorian Foreign Minister Maria Fernanda Espinosa Garces will serve as president of the upcoming U.N. General Assembly. Espinosa visited Tokyo and met with Abe last week.

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