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- Iran: 7 crew members of detained UK ship freed
- US addiction to sanction threaten its power: Iran’s Zarif
- Dutch role in 2007 Stuxnet attack on Iran’s nuclear site under scrutiny: Iraian FM Spox.
- Iran: ‘Sustainable Security 2019’ kicks off in Caspian Sea
- Iran’s Zarif leaves Tehran for Moscow
- Shiraz University ranked 1st in liver transplantation: Iranian health official
- Japan’s Abe to meet Iran’s president to discuss easing tension in region
- Downing of US spy drone shattered war threats against Iran: Top IRGC commander
- IAEO head reports development of first ion-therapy hospital in west of Asia
- Iranian Taekwondo team wins 2019 World Cup championship
- US sanctions failed to force Iran to buckle: Report
- Crew fixing Iran oil tanker broken down in Red Sea
- As Iranians hold nerves, US seeks to scare off trade
- Leader expresses concern about Kashmir, urges India to follow fair policy toward Muslim-majority region
- Iran saffron exports down due to smuggling, government restrictions: Exporter
- Iran FM warns US against ‘serious miscalculation’ in Persian Gulf
- Iran’s resistance policy led to release of oil tanker: MP
- Iran in reverse brain drain as top students come home in rising numbers
- Iran official calls for compensation for tanker seizure
- Iran hails N Korea for standing against ‘unilateral’ US demands
- Shia Muslims celebrate Eid Al-Ghadir
- North Korea praises Iran’s anti-US struggle
- Zarif says to meet French president Friday
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- Iran, Finland share views on Persian Gulf dialogue forum: Zarif
- Iran warns US against seizure of oil tanker
- Iraq eager to benefit from Iranian Police’s experience
- Iran planning 3rd step to reduce nuclear commitments: Spokesman
- Leader grants clemency to over 1,000 Iranian inmates
- Registration for Arbaeen Pilgrimage to begin in Iran on Friday
- Iran, Iraq agree to reopen Khosravi border crossing
- Iran deplores suicide attack at Kabul wedding hall
- Iran to hold int'l hand-woven carpets expo
- Zarif meets with Iran-Kuwait Friendship Group members
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- ‘Iran to stay in nuclear deal as long as its interests are met’
- India envoy happy with positive trend of trade with Iran
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- Iranian scientist discovers new state of matter
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- Gibraltar releases Iran-operated tanker despite US pressure
TEHRAN, January 10 - Italy said it will sign a basic agreement to provide as much as €5 billion to Iran to help press ahead the country’s development projects.
TEHRAN, Young Journalists Club (YJC) - The agreement – which could be signed between the two countries on Thursday – would be meant to enable Italian companies to invest in Iran, Reuters quoted an unnamed official at Italy’s Treasury as saying.
The accord foresees the opening of lines of credit to two Iranian banks by Invitalia, an Italian state-owned holding, in order to finance investment projects by Italian companies, the source said.
This follows several similar moves that were taken earlier. The latest involved an agreement between four Iranian banks and the Eximbank of Russia to provide “unlimited funds” for development projects to be carried out by domestic and international contractors in the Islamic Republic.
In late September, Austria’s Oberbank signed a major finance deal with over a dozen Iranian banks based on which it would provide €1 billion in credits to the country’s companies that invest in the Iranian economy.
Oberbank’s initiative – that was seen in Tehran as the first of its kind in many years – was followed on the same day by a similar agreement between Denmark’s Danske Bank and several Iranian banks.
Accordingly, Danske Bank would allocate a credit line of €500 million for investments by Danish businesses in Iran.
On a related front, France’s state investment bank Bpifrance (BPI) announced also in September that it planned to provide funds to French companies that invest in the Iranian economy from next year.
BPI France CEO Nicolas Dufourcq was quoted by media as telling reporters that his bank would grant up to €500 million ($598 million) in annual credits to companies that venture into the Iranian market.
Source: Presstv
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