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Eurasian Bank looks to invest in Russia-China electricity exports

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The Eurasian Development Bank (EADB) has expressed interest in a project by Russian electricity export-import operator Inter RAO UES for electricity deliveries to China, a bank spokesman said on Tuesday.

“This is a very interesting project and we would like to play a part in its financing,” said Yevgeny Vinokurov, head of the economic analysis department. He said the implementation of the project was expected to last until 2020 and that annual electricity exports would be about 60 billion kWh, worth around $1.2-1.7 billion.

The Eurasian Development Bank, established by Russia and Kazakhstan in 2006 to boost investment across the former Soviet Union, has a charter capital of $1.5 billion, with Russia expected to contribute $1 billion and Kazakhstan $500 million. (rian.ru)

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