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Banks not interested in buying bonds to fund highway projects (Ecuador)

 Ecuadorian banks are not interested in investing in government debt designed to fund infrastructure projects, the head of private sector banking association ABPE has said.

The government has indicated that it will seek to fund 80% of three highway construction projects worth a combined US$200mn - the Quevedo beltway, Zhud-Cochancay-El Triunfo and Yamanunca - with government bonds

ABPE president César Robalino said bonds on those projects would likely face a steep discount from the local market, making the funding more expensive, according to comments published in local newspaper El Universal.

Robalino did say banks would be perfectly willing to provide loans to the construction companies who win bids for the projects, under normal market conditions, according to the report.

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