Norway to open €1bn credit line for IRAN

IRAN and Norway have signed 3 MoUs in opening credit lines for both sides, with Norway pledging a credit line of €1bn for Tehran to promote trade.

Foreign Minister of Norway, Børge Brende is in a tour of Iran and met with his Iranian counterpart Javad Zarif earlier on Wednesday. They discussed bilateral trade, where both sides highlighted improved relations in banking and fiscal cooperation along with cooperation in other sectors.

The meeting produced 3 MoUs signed by Zarif and Brende and respective export finance authorities of both sides. According to one MoU, Norway will open a credit line worth €1bn for Iran to finance infrastructural projects planned in Iran.

Mr. Brende had also visited President Rouhani, Parliament Speaker Ali Larijani, Ali Shamkhani, Secretary of SNSC, Leader’s Adviser Ali Akbar Velayati, and Minister of Oil Bijan Namdar Zanganeh in separate meetings.

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