(MENAFN) Although the legal implementation of the agreement is still somewhat an issue, Russia has announced its full readiness to fund Iran with an estimated USD5 billion loan, according to the latest reports.
Russia revealed its willingness after realizing that the money will go into funding specific investment schemes of shared interest for both sides and which are economically viable and self-sufficient by itself.
In more detail, Russia and Iran recently initialed documents to open an USD2.2bn credit line during a visit by Iran's delegation to Moscow, to fund two contracts on building of thermal stations and a railroad.
"Three issues are still open regarding two pilot loans to Iran on railroad and thermal projects, but they're considered as pilot with no relation to the symbolic sum of USD5bn," said Russia's Deputy Energy Minister.
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