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  • New Zealand confirms 82 new COVID-19 cases
  • Neymar donates 1 million dollar to curb coronavirus
  • Head of World Athletics hopes COVID-19 can be contained before autumn
  • US performs record 1 4 Million COVID-19 tests - Pence
  • Trump says America oil executive did not request bailouts, discussed tariffs
  • COVID-19: UN chief reiterates appeal for global ceasefire
  • Canadian military deploying to Quebec to assist with COVID-19 containment - Statement
  • Pentagon exploring using US Navy hospital ship to treat COVID-19 patients - Official
  • Delta Airlines applies for US aid amid expectations of a 90 pc drop revenue - CEO
  • US-Led coalition provides 1 2 mln dollar in supplies to fight Coronavirus in NW Syria - Statement
  • First COVID-19 patient in US capital hopes pandemic will make people stronger
  • Volkswagen to ship 75,000 COVID-19 gowns, masks to New York hospitals - Statement
  • US, UAE complete multiple Live-fire exercises in Persian Gulf region- CENTCOM
  • Oil finishes with Record weekly gain of 37 pc as Trump touts output cuts
  • UN Chief urges countries to enable provision of aid amid COVID-19- Spokesman
WorldPosted at: Nov 20 2018 7:36PM


Russia to open €3 billion credit line for North-South Transport Corridor, says Iranian minister

Tehran, Nov 20 (UNI) Iran’s Minister of Roads and Urban Development Mohammad Eslami said Russia has decided to open a €3 billion credit line to finance the international North-South Transport Corridor (NSTC) which connects India to Russia via Iran.
Iranian minister will be travelling to Russia to discuss Tehran-Moscow cooperation in the railroad industry within the framework of the NSTC.
The minister said " Russia has agreed to open a €3 billion credit line for development of the major railroad corridor projec, Tasnim news agency reported.
The Russian, Indian and Azeri officials will also hold a meeting, added minister.
NSTC project was conceived in September 2000 and later came into force in the year 2002 after being ratified by the three countries. Since then, 11 more nations joined the project: Armenia, Azerbaijan, Belarus, Bulgaria (observer status), Kazakhstan, Kyrgyzstan, Oman, Syria, Tajikistan, Turkey, and Ukraine,
The International North–South Transport Corridor is a 7,200-km-long multi-mode network of ship, rail, and road route for moving freight between India, Iran, Afghanistan, Armenia, Azerbaijan, Russia, Central Asia and Europe. The long corridor connects India to Russia through Iran’s southeastern port city of Chabahar.
According to The Diplomat magazine, INSTC will be 30% cheaper and 40% shorter than the existing routes.It is estimated that the corridor will facilitate carrying 20-30 million tonnes of goods per year.
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