News ID: 314591
Published: 0210 GMT July 07, 2021

Rouhani blames uncertainty on FATF for insufficient investments in Iran

Rouhani blames uncertainty on FATF for insufficient investments in Iran
Iranian President Hassan Rouhani addresses a cabinet meeting in Tehran on July 7, 2021.

Iran’s President Hassan Rouhani blamed the recent blackouts in the country on the failure to finance major infrastructure projects, saying a lack of decision about the bills pertaining to the Financial Action Task Force (FATF) standards will perpetuate the problems in banking relations.

Speaking at a Wednesday cabinet meeting, Rouhani added Iran’s banking interactions with the world would not be normalized, nor will any foreign and local investor be willing to invest in the country’s projects, as long as the Expediency Council has not settled the fate of the outstanding bills on FATF, Tasnim News Agency reported.

Blaming inadequate investments in infrastructure projects for the recent power cuts, he said a lack of access to financial resources because of the FATF-related problems in working with foreign banks will deprive Iran of sufficient financing for the finalization of major plans.

“It is not possible to do anything without capital and with empty hands. Today, it must be explained to people what the problem is and why we cannot bring enough investments into the country’s market,” Rouhani added.

He also said that his administration has designed several major infrastructure projects in various fields, such as the water industry, which require between $200 billion to $300 billion in investments, noting that a lack of sufficient financing has impeded the implementation of those plans.




Resource: Tasnim News Agency
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