France grants $70m loan to renovate Iran's transport system
. Author: mbncom
The French government has granted a $70-million loan to Iran to renovate the Middle East state's transport system, announced the minister of roads and urban development.
Abbas Akhoundi was speaking in a meeting with France's Secretary of State Jean Baptiste Lemoyne held at his ministry on Wednesday and attended by representatives and executive officials of 14 French companies.
After listening to the proposals of the French firms, Akhoundi said, "Fortunately, the meetings between Iran and France have developed into continuous talks and the number of contracts between the two countries are increasing. At present, the financing of these projects is the only important issue."
The Iranian minister added talks with the French government on financing joint ventures have helped the two sides come up with a solution involving France granting treasury loans to Iran, the proposal of which is to be presented clearly to Tehran by Paris.
Akhoundi said, "The loan document has been signed by French Finance Minister Bruno Le Maire and delivered to Iran by Lemoyne. The move by the French government marked a new era of financial relations between Tehran and Paris."
He voiced optimism that the negotiations between the two governments and banking systems would lead to the adoption of positive strategies, adding, "We expect that European countries support European companies to actively participate in Iran's market."
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