Iran Extends New Credit Line to Syria to Make up for Market Needs

Syria's official news agency says Iran is extending a credit line to make up for market needs and reports that the two countries have signed several agreements in the fields of electricity, industry, oil and investment. Iran is a top ally of Syrian President Bashar Assad and is believed to have supplied his government with billions of dollars since the Syrian conflict began in March 2011. The new credit — it was not clear how much — comes as the Syrian pound's depreciation has accelerated.