Economy Minister Says OPEC Fund to Provide Financing for Iranian Contractors

Iran’s minister of economy announced negotiations with the head of the OPEC Fund, along with an agreement to secure financing for Iranian contractors in international projects through the fund.

Abdolnaser Hemmati, the economy minister, who traveled to AlUla, Saudi Arabia, to attend an annual conference on challenges and opportunities facing emerging economies, met with Abdulhamid Alkhalifa, the head of the OPEC Fund, on the sidelines of the event.

On the sidelines of the meeting, Hemmati stated, “We have reached good agreements with the OPEC Fund’s president. Accordingly, the fund, which provides financial resources for our country, will enable Iranian techno-engineering service providers and contractors to access the OPEC Fund’s resources.”

The minister added, “More importantly, as an active member of the OPEC Fund, we will increase our participation and presence in its meetings. Furthermore, representatives from the fund will visit Tehran and engage with members of the Chamber of Commerce and Iranian economic players to expand cooperation at the regional level.”

Hemmati traveled to Saudi Arabia at the shared invitation of his Saudi counterpart and the head of the International Monetary Fund. The minister aims to promote inclusive progress and build economic resilience through international cooperation by participating in the conference on challenges and opportunities for emerging economies and meeting with finance ministers, central bank governors, and selected policymakers. - Shana