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Argentina rejects Russian loan for hydro power plant construction

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Argentina rejects Russian loan for hydro power plant construction

Argentinian authorities will reject a 2,6 billion-dollars loan, which Russia planned to grant for the purpose to fund the construction of hydro power plant in this Latin American country, Bloomberg reports, citing the statement of the Finance Minister of Argentina.

At present, Argentina is discussing alternative options. “Financial conditions offered by Russia… are not attractive any more, after Argentina came out of the default,” the agency cites the statement of the Finance Ministry.

Russia and Argentine signed a protocol of intentions on implementation of a multi-purpose project of Chihuido I hydro power plant construction in Argentine in April 2015.

Meanwhile, Sergey Dankvert, head of the Russian agriculture watchdog Rosselkhoznadzor, told TASS news agency on Wednesday that Argentina and Russia continued talks on the implementation of the project.

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