Iran has asked Russia to provide an additional $2 billion loan for projects

Iran has asked Russia to provide an additional $2 billion loan for projects including the construction of thermal power plants, hydroelectric power plants, railroads and subway carriages.

“They’re asking for about $2 billion… They say they were promised $5 billion in 2015… We had loans allocated to them, they ask us to bring the total amount up to $5 billion,” Russian Energy Minister Alexander Novak said.

Last week, Iranian Energy Minister, Reza Ardakanyan, arrived in the Russian capital as the head of the Joint Commission on Economic Cooperation between Iran and Russia to launch a $5 billion Russian loan agreed with the Islamic Republic for joint infrastructure projects back in October 2015.

As IRNA quoted Ardakanyan: “As a co-chair of Russian-Iranian intergovernmental commission on trade and economic cooperation, I went to Moscow to negotiate a $5 billion loan fo Tehran.”

The Iranian minister said that the loan would be used to implement 2 projects: the construction of the Syrik power station, located on the Persian Gulf coast, and a large railway project that will connect Inche Borun in the north-east of the country with Garmsar, located in the southeast of Tehran. The Iranian parliament has also extended the license, which will allow the government of the Islamic state to receive $5 billion from the Russian Federation for infrastructure projects.

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