Iran Needs $40B Funding For Oil Fields

Iran is seeking about $40 billion by the end of March, Reuters reports. The proceeds will be used to speed up the development of oil and gas fields with neighboring countries.

The country intends to raise foreign capital through bonds and will tap the government’s general budget, Iranian banks and domestic bonds. Domestic contractors, including Khatam al-Anbia, will be engaged for developing the energy projects.

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