Italy and Iran have signed a framework credit agreement for up to €5 billion ($6.1 billion), Italy’s Economy Ministry has said.
Iran’s Middle East Bank and Bank of Industry and Mine signed the agreement with Italian state-owned holding Invitalia.
The money will be used to fund oil and gas projects and developments in other sectors. Iran’s government will provide a sovereign guarantee.
Talk to us
Natural Gas Daily welcomes your comments. Email us at email@example.com.