Iran announces debt settlement of Islamic Development Bank in cooperation with Iraq
The head of the Foreign Investment Organization of Iran reported on Tuesday that Tehran has settled its debts to the Islamic Development Bank of $300 million in export revenues to Iraq.
Ali Fikri, in a statement reported by Iranian Elina, pointed out that “the majority of direct investment comes from Russia, the UAE, China, Turkey, Iraq, India, Oman and other countries,” saying “about $10 billion and 600 million dollars of capital entered the country two years ago.”
He announced the settlement of Iran’s debts owed to the Islamic Development Bank and said: We have paid all debts owed to international institutions, and he completed: We paid the debts owed to the Islamic Development Bank through Iraq.
Iran’s debts to the Islamic Development Bank amounted to $300 million and all of which have been settled, according to the head of the Foreign Investment Organization of Iran.
Explaining that Iran is a major shareholder of the Islamic Development Bank, Fakhri said that “negotiations for new loans began with the settlement of outstanding debts. With the payment of outstanding debts, 12 semi-completed projects in Iran have been reactivated and their implementation resumed.”
But he added, “There are still some other debts, because some of the previous debts have not yet been deferred, and these debts are still being repaid and settled. We had debts owed to the Bank of Japan and the World Bank, which were also repaid, although in the case of the World Bank, the payments had already started with the previous government.”
“Russia leads the ranking with 26%, followed by China with 18%, then then the UAE with 13%, the Iranians living abroad with 10%, Turkey with about 4%, Iraq with about 3%, India with 1.8%, Oman with 1.2%, and other countries with 20%,” said the Iranian official for the most investing countries in Iran.
https://alforatnews.iq/news/إيران-تعلن-تسوية-ديون-البنك-الإسلامي-للتنمية-بالتعاون-مع-العراق
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