Spain, Ecuador sign debt swap agreements

ECUADOR: The Ecuadorian and Spanish governments on Wednesday signed seven agreements on a 30-million-U.S.-dollar debt swap program.

The Ecuadorian Government said this is the second stage of the program since both countries agreed in 2005 to use the debt of 30 million dollars "for development actions."

The new agreements are aimed at "improving the life conditions of more than 1.5 million people" through infrastructure, education, and housing projects in Ecuador.

The agreements foresee the construction of "Education Units of the Millennium," which will promote access to the education system by building four new schools in Imbabura Province.

A total of 12 million dollars will be spent in repairing 36 schools and training teachers.

The Ecuadorian Public Health Ministry will receive 10.1 million dollars to work in the provinces of Esmeraldas, Carchi, Imbabura, Orellana and Scumbios, benefiting one million people.

In addition, a 6.1-million-dollar "National Network of Houses" will be created to support immigrants in Ecuador, according to the agreements.

The agreements also include a program on water supply mainly at the northern Ecuadorian border

Quito, Thursday, Xinhua