ID : N-186 Date : 2017/08/24 - 11:54
(Persia digest)- The biggest foreign loan deal following the Iran nuclear agreement JCPOA has been signed by the Iranian Minister of Economy and the Director of Exim Bank of Korea in Seoul worth over eight billion Euros.
The Head of the Foreign Investment Organization of Iran, Mohammad Khazaei, said signing and implementing this line of credit is an important step in expanding relations between the two countries. He added that the state and private sectors in Iran will be able to use this credit line within the framework of its regulations.
Twelve main Iranian banks are eligible to use the credit line. Numerous projects, in particular in health, transport, and energy, have previously been discussed and will be introduced to the Korean side.
Prior to this, a USD 7.1 billion loan agreement was signed with the Chinese Exim Bank for a railway electrification system between Tehran-Mashhad. A 2.2 Euros agreement was also signed and implemented with Russia for the energy and transport sectors.