Iran expects to receive $2 billion loan from Russia

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TEHRAN – Iran wants to receive a $2 billion loan from Russia to implement various projects, potentially increasing Moscow’s investments in the country to $5 billion.

The information was confirmed on Saturday by Russian Energy Minister Aleksandr Novak.

“They actually placed orders on various government projects, budgets and loan … Approximately $2 billion, $5 billion from previous decisions taken into account. They say they were promised 5 [billion] in 2015,” said Novak in conversation with journalists.

The minister, who is also co-chair of the Russian-Iranian intergovernmental commission on trade and economic cooperation, specified that the funds will be earmarked for the construction of thermoelectric and hydroelectric plants, railways and subways.

This week Novak held a meeting with his Iranian colleague Reza Ardakanian to discuss the issue. According to the Iranian media, when the minister visited Tehran in October 2015, Russia promised to provide Iran with $ 5 billion for joint infrastructure projects.

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Meanwhile, Brazil is planning to define the business plan to complete the construction of the Angra 3 nuclear power plant with Russia’s participation, according to Rosatom (Russian State Nuclear Corporation).

“Currently, Brazilian colleagues are working to agree on a business model , how they will finish building Angra 3. They say they plan to solve the business model later this year. Then, in January, it will be a bid has been announced,” Rosatom Latin America President Ivan Dybov said.

Earlier, the head of Rosatom Overseas (part of the state-owned company Rosatom), Yevgeny Pakermanov, had told Sputnik that Russia was ready to consider, under certain conditions, its participation in completing the Angra 3 nuclear power plant.

Brazil and Russia have a cooperation treaty in the field of nuclear energy, signed in 1994. In 2017, Rosatom Corporation signed a memorandum of understanding with the Brazilian companies Eletrobras and Eletronuclear on promoting collaboration.

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