A diplomatic cable by Wikileaks N° 245,644, issued on January 26th/ 2010, revealed the time when the Chinese Embassy told their concern to the U.S. representative in Quito, Heather Hodges about the different “verbal assaults” that Ecuadorian President Rafael Correa, made in December 2009.
This prompted China to take precautions with the negotiations of the time, which would make China a loan to finance the project Coca Codo Sinclair.
Because of these uncertainties by the Asian country, Correa admitted to be upset by the conditions that the country required before granting a loan, and in many occasions he said he felt “mistreated by China.”
By March 2010, and given that negotiations have not progressed because of disagreements on the issue of credit guarantees, Correa ended the management “from abuse, rudeness, with which we have tried.””If we are going to be treated as another transnational again, more rigorously than the International Monetary Fund (IMF), in commercial terms, not in political terms, well, we will seek funding elsewhere,” said the president at the time.
However, in June 2010, the appropriation of $ 1,600 million for the Coca Codo completed successfully and without providing guarantees to lenders.
Source: El Universo Newspaper