Brazil says Ecuador could lose future financing

BRASILIA, Brazil (AP) -- Brazil's foreign minister says Ecuador could lose Brazilian financing for infrastructure projects because it is contesting payment of a loan for a hydroelectric dam.

Foreign Minister Celso Amorim tells lawmakers that Ecuador "shot itself in the foot" with its action, which also involved expelling executives of the Brazilian company that built the dam.

Ecuador has challenged the $246.9 million loan from Brazil's National Development Bank, alleging the dam builder did shoddy work.

Amorim said Tuesday that Brazil is among the few sources of loans left for Ecuador because of the global credit crunch. He says one project at risk is a land-and-river trade route linking Brazil's Amazon rain forest to Ecuador's Pacific coast.

(Copyright 2008 by The Associated Press. All Rights Reserved.)


Join the Conversation!

To comment, the following rules must be followed:

  • No Obscenity, Profanity, Vulgarity, Racism or Violent Descriptions
  • No Negative Community Comparisons
  • No Fighting, Name-calling, or Personal Attacks
  • Multiple Accounts are Not Allowed
  • Stay on Story Topic

Comments may be monitored for inappropriate content, but the station is under no legal obligation to do so.
If you believe a comment violates the above rules, please use the Flagging Tool to alert a Moderator.
Flagging does not guarantee removal.

Multiple violations may result in account suspension.
Decisions to suspend or unsuspend accounts are made by Station Moderators.
Links require admin approval before posting.
Questions may be sent to webmaster@wvlt-tv.com. Please provide detailed information.

powered by Disqus

WVLT VOLUNTEER TV

6450 Papermill Drive Knoxville, TN 37919 Phone - (865) 450-8888; Fax - (865) 450-8869
Gray Television, Inc. - Copyright © 2014 WVLT-TV Inc. - Designed by Gray Digital Media - Powered by Clickability 35803864 - local8now.com/a?a=35803864