Tehran, Moscow to create investment committees to finance joint projects

The national wealth funds of Russia and Iran plan to create joint investment committees to implement various projects in the oil and gas, petrochemical, pharmaceutical and a number of other areas, said Hossein Eyvazlou, a member of the executive board of the National Development Fund of Iran, Report informs referring to IRNA.

He noted that these committees will consider the submitted projects, which will be financed on a parity basis - 50%.

He emphasized that cooperation models and interaction mechanisms have been approved, and approval is pending from the board of trustees of the Russian National Welfare Fund.