Russia may provide loan of $2.5 bln to Iran; currently agreeing terms

As recently as last autumn, Russia was discussing the possibility of providing two loans to Iran.

As recently as last autumn, Russia was discussing the possibility of providing two loans to Iran.

Alexey Kudenko/RIA Novosti
Last autumn Russia discussed the possibility of providing 2 loans to Iran

Russia may provide a Iran loan for infrastructure projects totaling $2.5 billion, although a final decision on the amount and terms of the loan are being agreed, Energy Minister Alexander Novak told journalists following a meeting with Mahmoud Vaezi, the co-chairman of the Russian-Iranian intergovernmental commission.

As recently as last autumn, Russia was discussing the possibility of providing two loans to Iran: one for $5 billion and another for $2.2 billion.

"The profile companies confirmed that in the coming days they will sign contracts on construction of a thermal power plant and rail line electrification. We await the final terms and cost. The current discussion is for a total of up to $2.5 billion for those two projects," he said.

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