Italy's Invitalia Global
Investment and the Iranian banks Bank of Industry and Mines and
Middle East Bank on Thursday signed a Master Credit Agreement
setting terms and conditions for future investment contracts
worth up to five billion euros. The contracts will span the
sectors of energy, infrastructure, chemicals, petrochemicals and
metallurgic, the two sides said. The contracts will be covered
by a sovereign guarantee issued by the Iranian government, the
parties said. Economy Minister Pier Carlo Padoan and Iranian
Deputy Economy Minister Mohammad Khazaee hailed the deal.
Khazaee is also head of the Organization for Investment,
Economic and Technical Assistance of Iran (OIETAI).
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