Today President Luiz Inácio Lula da Silva arrives in Ecuador for talks with president Lucio Gutierrez on technical cooperation agreements in the areas of health, telecommunications and energy. The Brazilian Development Bank (BNDES) will make financing totalling US$ 243 million available for a hydroelectric project in that country.
Ecuador also seeks other loans for airports in Quito and Tena, and another hydroelectric project. Those three projects are worth US$409 million.
Brazil may also assist in modernizing management practices in the Ecuadorian state-run petroleum firm, Petro Equador, and the telecommunications sector.
According to íŠnio Cordeiro, director of the South America Department at the Brazilian Ministry of Foreign Relations, Brazil also wants to boost trade with Ecuador. “We are studying ways to help them export more to Brazil,” explains Cordeiro.