Summary/Brief
Ecuadorian airline receives $62 million loan from the IADB
Washington, D.C. | Thursday, November 29, 2007
by Lesley Wroughton for Reuters
Summary by BIC
The IADB approved a $62 million loan on Thursday for a commercial airline in Ecuador. The airline, TAME, will use the money to rebuild and modernize its fleet of planes. This includes the purchase of two new Embraer ERJ-190AR aircraft. The loan aims to improve flight service and integration in Ecuador, especially for isolated areas. The 20-year loan is backed by the government.
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Sources
http://today.reuters.com/news/articleinvesting.aspx?type=bondsNews&storyID=2007-11-29T232529Z_01_N29237305_RTRIDST_0_ECUADOR-IADB.XML
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