Italy signs €5 bln credit agreement deal with Iran

Italy and Iran have signed a framework credit agreement for up to €5 billion, Italy’s Economy Ministry has said.
By Staff reporter 12 January 2018 0 29072

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.

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