Iranian Parliament Authorizes Government To Borrow $5 Billion From Russia - ISNA

Iranian Parliament Authorizes Government to Borrow $5 Billion From Russia - ISNA

TEHRAN (UrduPoint News / Sputnik - 23rd February, 2021) Iran's parliament has allowed the government to borrow a maximum of $5 billion from Russia, ISNA reported.

The news agency said parliamentarians, at a plenary session on Monday, had been considering a draft budget for the next year, which begins on March 21, and approved loan provisions.

The loan focuses on infrastructure, including nuclear and alternative energy, and railways.

The possible Russian loan to Iran has been discussed for several years, in particular, it was mentioned by Iranian President Hassan Rouhani back in 2019.

At the end of 2019, Iranian Energy Minister Reza Ardakanian said Tehran planned to channel a $5 billion loan from Russia to six energy and transport projects.