TEHRAN (FNA)- Iran will loan more than 200 million US dollars to Ecuador and will study several investment projects in the country, Ecuador's President Rafael Correa announced during his radio and television address.
President Correa did not give further details but recalled that last week he met in Quito with an Iranian delegation to analyze the progress of the bilateral accords established in recent months.
"Collaboration with Iran has started to bear fruit" and soon representatives of construction companies from Tehran will arrive to "study the projects in which they want to invest," the president said.
"A loan of more than 200 million USD from Iran to Ecuador is practically certain," he said, mentioning that with Tehran "there is not only financing for trade" but also "cooperation for development".
"There is a new outlook" that includes technology transfer and "many other things," he said.
Ecuador together with Cuba, Venezuela and Bolivia have established closer political and trade links with Iran, as well as strengthening ties with China and Russia, an area traditionally known as Washington backyard.