Iran loans Azerbaijan 40m dollars

Iranian Minister for Cooperation has said in Baku the Iranian Export Assistance Fund has agreed to allocation of 40m dollars in loan to Azerbaijan.

Syed Ali Sufi, head of the Iranian delegation and co-chairman of the joint commission on economic, commercial and humanitarian cooperation, told Chairman of the State Customs Committee Kamaladdin Heydarov Wednesday that his country has assumed 85 percent of funding of the Astara-Baku highway.

Welcoming the Iranian delegates, Mr. Heydarov said bilateral relations have recently improved. He noted that customs bodies have been focused on security issues besides financial concerns since the September 11.

On his part, Mr. Sufi elaborated on the fifth Baku meeting of the commission. The Iranian minister commended the bridges being built in Culfa, Astara, Poldast, and Sahtaxtli, as well as new terminals and pedestrian bridges in border checkpoints as a turning point in bilateral relations. Touching upon the importance of the North-South transport corridor and round-the-clock customs service, he said both countries should provide smooth transportation of goods through their territories.*