Baku, Azerbaijan, Nov. 6
By Khalid Kazimov – Trend:
Iranian Minister of Industry and Commerce Mohammad Shariatmadari has said that the capital of the insurance fund for mining activities has increased 10 times over the recent years.
Speaking at a ceremony for inking an agreement on cooperation between the Iranian insurance fund for mining activities and Bank of Industry and Mine, the minister said the capital of the fund has reached $33.3 million (110 billion tomans), Iran's rolling news channels IRINN reported on Monday.
Under the agreement between the insurance fund and Bank of Industry and Mine, the sides will cooperate in financing mining projects in the country, the report added.
The minister further said the fund has already allocated about $121.2 million (400 billion tomans) to the mining sector.