Russia is granting some €5 billion in loans to joint projects with the Islamic Republic of Iran, according to an official familiar with the matter.
The loan has been allocated within the framework of joint cooperation documents between Iran and Russia, Behnam Khaefinejad, the contractor of steam power plants project at Thermal Power Plants Holding Company was quoted as saying by IRNA.
Iranian Minister of Economy Ehsan Khandoozi had said few days ago that a recent visit to Russia by President Ebrahim Raeisi had great achievements, for instance, Moscow has allocated the first part of a credit line for development of Sirik Power Plant.
President Raisi said on January 22 that the Islamic Republic and Russia have reached an agreement to boost the trade between the two countries up to $10 billion.
Spokesman of Iran Customs Administration Rouhollah Latifi has said that Iran’s trade with Russia stood at 3.5 million tons worth $1.66 billion in the current fiscal year’s first nine months (March 21 – Dec. 21), registering a 12% and 41% year-on-year growth in weight and value respectively.