Gov’t Allowed to Secure $5b Russia Loan

The Majlis on Tuesday allowed the government to take a $5- billion loan from Russia for development projects.
The money is set to be used for completing development projects namely infrastructure and production units in the renewable energy, nuclear power, power generation, railroads, highways and water networks, ISNA reported.
The Central Bank of Iran, Ministry of Economy and the Plan and Budget Organization will propose the format for using the funds to the government.