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Iran Expects to Secure $2Bln Loan From Moscow - Russian Energy Minister

CC BY 2.0 / Capri23auto / Deal
Deal - Sputnik International
MOSCOW (Sputnik) - Iran wants to receive from Russia a $2 billion loan t to implement several projects, potentially increasing Moscow's investments in the country to $5 billion, Russian Energy Minister Alexander Novak said on Saturday.
"They have indeed made requests regarding a number of projects, budget and government loans ... Approximately $2 billion, $5 billion with the previous decisions taken into account. They say that they were promised 5 [billion] in 2015 ... they have asked to make it five [billion]," Novak told journalists.

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The minister, who is also a co-chairman of the Russian-Iranian intergovernmental commission on trade and economic cooperation, specified that the funds would go to build thermal and hydroelectric power plants, railroads, metro rail-cars.

On Friday, Novak held a meeting with his Iranian counterpart, Reza Ardakanian, to discuss the issue.

According to Iranian media, when Novak visited Tehran in October 2015, Russia promised to provide $5 billion for joint infrastructure projects.

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