VOL. XLI

No. 03

19-January-1998

IRAN

Parliament Approves $5.4bn Worth Of Buy-Back Projects For Next Iranian Year

Parliament has authorized the government to borrow up to $6.3bn in foreign financingfor the oil and gas sector during the Iranian year 1377, which begins on 21 March. Ofthis, some $5.4bn has been allocated for the funding of buy-back projects with foreignfirms. Under the buy-back formula, the outside company is required to put up all of theinvestment capital needed to fund the...