Ecuador Italy forgive payment of 35 million debt

Italy agreed that Ecuador does not return him 35 million (approximately) debt, as long as the country to invest that amount in development projects, actions risk reduction in disaster dollars and even a portion can be used to fund prevention initiatives and mitigation of natural phenomena. That was the agreement signed Friday the two nations, represented by Ecuadorian Foreign Minister Guillaume Long and Italian Ambassador Marco Filippo Tornetta, for converting debt.

The Italian ambassador said that this instrument “will allow Italy to develop a special assistance within the framework of the reconstruction of the country” after the earthquake two weeks ago.

He also said that the amounts of debt conversion should be aimed at important projects, because “the emergency does not need plans but acts” according to the bulletin of the Ministry of Foreign Affairs.

Long Chancellor, meanwhile, expressed satisfaction that “vital trade”, which had already worked for months (I).

Source: http://expreso.ec/actualidad/italia-perdona-a-ecuador-el-pago-de-35-millones-de-deuda-CN294747