Baku, Azerbaijan, Nov. 12
Russia and Iran have agreed on the main terms of issuing a loan worth $7-8 billion for the projects being implemented by the Russian companies, Mojtaba Khosrotaj, the First Deputy Minister of Industry, Mine and Trade, told RIA Novosti.
"Such an agreement was reached at the highest level,” he said. “The banks must agree on the technical details.”
He said that a loan worth $7-8 billion will be delivered to the suppliers from Russia and buyers in Iran to implement the projects.
“There are two options for financing the projects - one under the state guarantees or under the banks’ guarantees,” Khosrotaj explained. “The details will be worked out.”
"Today, the credit and financial schemes play a key role in the implementation of various national and international projects,” he said. “So we raised this issue with our friends in Russia. We have come to the conclusion that such a scheme would be very useful."
Earlier, Russian Energy Minister Alexander Novak said that Iran made a bid to the Russian side for getting a loan worth $5 billion to implement the infrastructure projects in Iran.
He said that the cooperation issues in the electric power sector and the issues related to the development of railway transport are the most well developed projects for cooperation between Russia and Iran.
Moreover, Russia and Iran can create a bank that will finance the joint projects.
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