Russia to finance Iran’s rail fleet
Baku, Azerbaijan, April 5
By Khalid Kazimov - Trend:
Export Insurance Agency of Russia and Iran Railways Company have signed a memorandum of understanding (MoU) to finance Iran's rail fleet, an Iranian railways official said. A deputy head at Iran Railways Company, Babak Ahmadi, has said that Export Insurance Agency of Russia will finance a major part of projects for developing Iran's rail fleet, IRNA news agency reported. Under the terms of the MoU, Iranian and Russian manufacturers will jointly produce freight wagons, locomotives and passenger carriages in Iran.
Last November Russia and Iran signed a number of documents aimed at expanding economic cooperation. The documents were signed in the presence of the two countries' presidents Vladimir Putin of Russia and Hassan Rouhani of Iran
Meanwhile, Russia's Vnesheconombank, Russia's Export Insurance Agency EXIAR and Iran's Central Bank signed a memorandum of understanding to promote investment activities, guarantee support, export financing and trade ties.