IRAN, ARMENIA TO FINANCE ENERGY PROJECTS IN ARMENIA

Xinhua General News Service
April 14, 2009 Tuesday 10:40 PM EST

Visiting Armenian Energy Minister Armen Movsisyan discussed with
Iran’s Minister of Economy and Finance Shamseddin Hosseini, the ways
to finance energy projects by Iran in Armenia, the official IRNA news
agency reported on Tuesday.

"The Islamic Republic of Iran is willing to cooperate with Armenia
in developing infrastructure of the former Soviet republic, " said
Hosseini, expressing hope that "the ground for expanding two countries
economic and trade cooperation would be prepared in near future."

For his part, Movsisyan appreciated opening up of credit line for
Armenia by the Export Development Bank of Iran, the report said.

In an official two-day visit, Armenian President Serzh Sargsyan,
heading a high ranking political and economic delegation, arrived in
Tehran on Monday for multipurpose talks with Iranian officials.

Some economic contracts including a memorandum of understanding on
rail transport cooperation between the two countries are expected to
be signed during his visit.

In November 2008, Iran and Armenia inked ten agreements on security,
political and economic cooperation in Tehran.