Nine financial institutions from Europe and Asia have expressed their readiness to fund Iran's purchases of planes from Airbus and Boeing, a report said.

According to deputy minister of Roads and Urban Development for International Affairs, Asghar Fakhrieh Kashan, institutions from Norway, Denmark, Ireland, Britain, China and Japan have already approached Iran to fund the purchases, said a report in Iran Daily.

Arragements are being made to hold a tender to choose the winning financier.

"Iran Air is preparing the tender documents so that they would be sent to all credible financers worldwide," Fakhrieh Kashan told IRNA.

"We are in conditions that permit us to choose our desired financers in a competitive atmosphere that a tender creates," he said.