A memorandum was signed recently between Iran and Bolivia pronouncing the participation of Iran in 25 industrial projects. Presidents of both countries expressed their agreement on the issue.
Sources confirmed that large industrial projects will involve a sum of US $1 billion in five years, while an approximate of $100 million will be invested in small industries within two years. Besides, the main areas to be covered by the project will include among others agriculture, glassware, textile, chemical and mineral.
Finance of $35 million required for the implementation of the projects will be rendered by Bolivia and the rest $65 million will be provided by the joint fund of Iran-Venezuela.