Azerbaijan , Baku, Feb. 23 / Trend, A.Yusifzade /

Iran needs to attract roughly $1 trillion of investments to meet the Fifth Five Year Development Plan (2011-2016) goals, Mehr News Agency reported quoting the Head of Iran's Chamber of Commerce, Industries and Mines, Mohammad Nahavandian as saying.

According to 20-year development plan (2011-2026), Iran is to attract $500 billion for 8 percent economic growth, Organization for Investment, Economic and Technical Assistance of Iran (OIETAI) Director General Behrouz Alishiri said earlier, Iran's Ministry of Economic Affairs and Finance reported.

Iran has attracted $450 million short-term loan for local banks and private companies in the first eleven months of the current Iranian year (started March 21).

"The figure stood at $1.669 million in 2006, about $1,669 million in 2007, about $1.615 million in 2008, about $3.016 million in 2009 and $2.751 million in 2010," Alishiri added.

In a five-year economic development plan in March 2005, the Iranian government issued a document called Iran's 20-Year Economic Perspective, outlining a road map for the country's economic, political, social and cultural developments during the next two decades.

Following the adoption of Resolution No. 1929 in June by the U.N. Security Council, the U.S. Congress passed a bill on unilateral anti-Iran sanctions on June 24, 2010.

In July this year, EU leaders and foreign ministers proposed additional sanctions against Iran at the Brussels meeting. Foreign ministers of all EU countries approved additional sanctions against Iran at a meeting in Luxembourg on Oct. 25, 2010.