Iran plans to sell $11bn bonds to fund projects

Iran plans to sell $11 billion (Dh40.4bn) worth of bonds to finance economic projects, Finance Minister Shamseddin Hosseini told reporters.

The bonds will be sold in the current Iranian year, Hosseini said at a meeting with an adviser to Kuwait's prime minister in Tehran yesterday, according to the website of state-run Press TV. The bonds will pay "appropriate interest" and the government encourages foreign investors to buy them, he said. Parliament approved the sale of $11bn in bonds to fund energy projects.