Consortium of Banks Considers Energy Projects Worth $4 Billion

Iranian banks have formed a consortium to fund domestic oil and gas projects estimated at $4 billion, the Economy Minister Ehsan Khandouzi said.
"The consortium will finance energy development projects...Currently we face restrictions in getting foreign financial resources. Domestic sources can and should play a more effective role in funding infrastructure projects in the country," Khandouzi was quoted as saying by IBENA.
The consortium is expected to sign an agreement in the near future, he told reporters, adding that details of the collaboration would be disclosed after the deal is ready.