"Japan's ambassador to Tehran said his government had allocated a 10-billion-dollar credit line for companies interested in making investment or conducting joint venture in Iran," Iranian Deputy Energy Minister Houshang Falahatian said on Monday.
Falahatian pointed to an ongoing seminar on Tehran-Tokyo cooperation on the sidelines of the 17th International Electricity Exhibition of Iran, and said, "At the joint event, Japanese firms are seeking to introduce their capacities to Iranian counterparts as well as to explore venues for investment in Iran's power industry."
In relevant remarks in late March, Japanese Embassy in Tehran in a communique declared the activation of Tehran-Tokyo agreement of reciprocal support for investment in Iran and Japan.
"Upon receiving a notice from Iran on March 27, Japan finalized and put into practice the Iran-Japan agreement to reciprocally encourage and support investment in Iran and Japan,” read the communique released by Japan’s embassy.
It said that the agreement covers a host of full and comprehensive issues in terms of encouraging and supporting investment in Iran and Japan and with its implementation, it is expected that there would be more investment in these two countries and the economic relations between these two countries will be enhanced.
The agreement resulting in the Act to support Iran-Japan investment was passed by Iran’s parliament in late November 2016 and finally approved and put into law by the Guardian Council in late December 2016.
In relevant remarks in early February, the Japanese government expressed willingness to allocate $6.9 billion to fund five projects in Iran to further expand bilateral relations between the two countries.
"Tokyo is going to continue its assistance of up to 40 billion Japanese Yen annually for the next four years starting in 2017," the Japanese embassy in Tehran said in a press release.
The embassy noted that the allocation of the aid was confirmed in the Brussels Conference on Afghanistan in October 2016 and will be extended through international organizations and UN bodies.
"The projects include a contribution of one million dollars through the United Nations Development Program (UNDP) to restore Lake Oroumiyeh, approximately two million dollars in humanitarian aid assistance for the Afghan refugees through the United Nations High Commissioner for Refugees (UNHCR) program, around $1.9 million funneled through the United Nations Office on Drugs and Crime (UNODC) to be used on border controls, fighting drugs, customs cooperation and money laundering, $500,000 to promote integration of industries in Chabahar port city in the Persian Gulf through a program to be implemented by the United Nations Industrial Development Organization (UNIDO) and finally $1.5 million in donated funds funneled through the International Committee of the Red Cross for emergency activities in Iran.
