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KfW to finance Iranian railway project

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Posted: 28. November 2016 at 15:14   /   by   /   comments (0)

According to an anonymous official of the Central Bank of Iran, the state-run German KfW bank will provide a credit line of 1,2 billion Euro for the development of the Tehran-Mashhad railway line.

Even after the lifting of sanctions in January this year, the Iran still faces problems in receiving foreign financing due for the country’s infrastructure as international banks are afraid to break any US-sanctions still in existence.

The chairman of the German-Iranian Chamber of Commerce talked about the financing and confirmed that the deal is almost sealed. But nothing is official yet as the KfW released a statement saying that they are not allowed to confirm or comment on any ongoing negotiations.

German companies are also involved in the development of the Iranian infrastructure: the Siemens AG has signed various agreements with the Iran which, amongst others, concern the electrification of the Tehran-Mashhad railway.

Quelle: http://www.bloomberg.com/news/articles/2016-11-27/germany-s-kfw-said-to-agree-on-1-2-billion-euro-iran-rail-loan; Foto: Fotolia