Economy, Business And Markets

Low-Interest Loans From Foreign Banks

Low-Interest Loans From Foreign Banks Low-Interest Loans From Foreign Banks

Foreign banks willing to boost economic ties with Tehran have agreed to provide Iran with low-interest loans, Minister of Industries Mohammad Reza Nematzadeh said on Friday. He has been seeking to secure financing for Iran’s industrial projects to help the economy recover, TNA reported. After getting a concession from industry creditors last week—creditors in foreign exchange will bear the losses of rial’s 2012 devaluation, he now says foreign financing is becoming available. The minister, speaking at Friday prayers’  ceremony, pointed to the positive atmosphere that has been created in the international community after the conclusion of nuclear talks between Iran and six world powers, saying many countries have called for closer cooperation with the Islamic Republic. “Those countries, willing to cooperate with Tehran, have been asked to provide bank facilities in Iran with the same low-interest rates as they provide in their own countries,” he said. “As far as I know, the issue has been accepted [by the countries].” The minister did not identify any countries or banks.