Irans Ministry of Economic Affairs and Finance and China Development Bank (CDB) inked an agreement on economic cooperation.
The agreement was signed here Wednesday focusing on allocation of money to economic projects, infrastructural ones in particular.
As per agreement, the Chinese side will allocate a maximum of 15 billion euros fund to implement the approved projects.
The two also agreed to finalize the agreement and implement it within the next three months.
According to bilateral agreement, Irans finance ministry will introduce the projects to China Development Bank, then the Chinese side will be responsible for providing money for implementation of them.
The inking ceremony was held by Irans Deputy Minister of Economic Affairs and Financer Mohammad Khazaei and Executive Vice President of CDB Zhang Xuguang after the 16th meeting of the joint economic commission between Iran and China.
The meeting of that commission was held on Tuesday evening in the presence of visiting Iranian Minister of Economic Affairs and Finance Ali Tayyebnia.
Source: IRNA - Date: (17 August 2016)