Iran to Tap International Banks for Energy Finance

Iran to Tap International Banks for Energy FinanceIran to Tap International Banks for Energy Finance

Domestic water and power plans are expected to draw a total of €4 billion ($4.63 billion) in finance from Islamic Development Bank, ECO Trade and Development Bank as well as Asian Infrastructure Investment Bank, Iran’s energy minister announced.
“Iran has earlier started [energy] projects worth over €2 billion through investment from such development banks, some of which have been completed,” Reza Ardekanian was also quoted as saying by Mehr News Agency on Tuesday.
The energy minister made the statement on the sidelines of the 12th International Energy Conference, which was held on June 19-20 in Tehran. The main theme of this edition of the biennial conference was "Innovative Systems in Energy-Water-Environment Nexus". 
"The ministry has also attracted more than €2.7 billion ($3.13 billion) in foreign investment for water recycling, power plants’ efficiency and other infrastructural projects," he said.


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