Germany’s state-run bank KfW IPEX would provide a credit line worth EUR 1.2 billion for the development of a railway project in Iran, an unnamed official from the Central Bank of Iran (CBI) said. The official added that it would be used for the development of the railway from Tehran to Mashhad. The funding has been agreed in principle and is close to being finalized, according to Michael Tockuss, chairman of the Germany-Iran Chamber of Commerce.
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