Norway to Grant €1b Credit Line

Iranian and Norwegian delegations meet in Tehran on August 17.   Iranian and Norwegian delegations meet in Tehran on August 17.

Export Guarantee Fund of Iran and the Norwegian Export Credit Guarantee Agency signed three memorandums of understanding, based on which the European country will grant Iran an export credit line worth €1 billion.

One of the purposes of the MoUs is to provide funds for development and infrastructure projects agreed between the two sides, Fars News Agency reported.   

The agreements were signed by economic officials in Tehran on Wednesday, in the presence of Foreign Minister Mohammad Javad Zarif and his Norwegian counterpart, Borge Brende, who discussed bilateral relations and regional developments in their meeting earlier in the day.

Brende, besides talking with Zarif, met Secretary of Supreme National Security Council Ali Shamkhani on Wednesday.

In the meeting, the Norwegian minister said his country is ready to take its relations with Tehran to a higher level.

"With the removal of international sanctions on Iran, good opportunities for cooperation have emerged. Oslo is ready to exploit these chances to expand Iran's relations in the post-JCPOA era," he said.

He used the formal title of the July 2015 nuclear deal between Iran and world powers, formally known as the Joint Comprehensive Plan of Action, under which the UN, EU and US agreed to remove their nuclear-related sanctions on Iran.

Brende also touched on West Asian conflicts, saying cooperation among regional states is a must for promoting security in the region.

"Regional cooperation is essential to bringing lasting peace to this sensitive region of the world. Iran, as an important and influential regional state, has played a constructive role in efforts to restore stability to Iraq and Syria," he said.

Shamkhani said that in view of huge capacities of the two countries, "economic, trade and political interactions between Iran and Norway can be expanded".

The Iranian official noted that stemming the spread of terrorism in the world is not possible without dealing with root causes, including ideologies that justify terrorism and countries that use terrorists as a tool.

"A wrong decision to use terrorists to undermine governments led to the creation of the self-styled Islamic State and other terrorist groups," he said.

"Stopping financial and military support for terrorists and respecting the will of regional nations is the way for restoring peace to the region."

Brende was also expected to meet President Hassan Rouhani, Majlis Speaker Ali Larijani, foreign policy advisor to the Leader of Islamic Revolution, Ali Akbar Velayati, and Oil Minister Bijan Namdar Zanganeh.