(MENAFN) Iran's parliament was announced to have renewed a license to accept a USD5 billion loan from Russia to the Iranian government.
Following the license extension during talks on the budget bill, the loan will be spent on plans for infrastructure development.
It comes after Russia approved back in 2015 for Iran to be granted the loan in order to implement joint infrastructure plans.
Iran was already granted USD2 billion of the loan agreement, and is currently to receive what is left of the amount agreed upon.
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