Russia is interested in investing around $1bn in Ecuador to help develop electric power and oil projects, the countryà¢€â„¢s president Rafael Correa confirmed.
Correa said he held a conversation with Russiaà¢€â„¢s ambassador in Quito, Yan Burliay, who spoke of his countryà¢€â„¢s interest of investing in energy projects. The president didnà¢€â„¢t provide further detail.
Separately, Russiaà¢€â„¢s Eximbank will make a loan of $123.2m to Ecuador for the construction of two hydroelectric plants, which are part of a project to generate around 253 MW in electricity by 2015.
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