Azerbaijan, Iran may set up bank to fund energy projects
BAKU – Azerbaijan and Iran may soon establish an "energy bank" to implement joint oil and gas projects, Iranian Oil Minister Massoud Mirkazemi said Wednesday as he wrapped up his visit to the neighboring country.
Mirkazemi told a news conference that both Azerbaijan and Iran have the potential to invest in the energy sector.
"If the oil and gas companies operating in the two countries take interest, the establishment of the Energy Bank may take place. Research will be conducted in this area. Companies can entrust their investments in this bank. The bank, for its part, could finance joint projects both in Azerbaijan and Iran as well as in third countries."
The minister added that the newly established joint committee will soon meet in Tehran to discuss the viability of setting up the bank.
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