Export Development Bank of Iran provides advances to national projects
Tehran, Iran, Oct.3
The Export Development Bank of Iran (EDBI) is providing advances to country's industries and exports, head of the bank Ali Salehabadi told Trend.
"The EDBI is currently providing financing to export projects in various sectors including food industry, steel, petrochemical, sectors," he said referring to the EDBI current national projects.
"In this regard, around 42 percent of the bank's advances are related to providing finances to petrochemical projects and oil products," he said.
The official emphasized that the Export Development Bank of Iran has provided advances to the industry and mine sector.
"The volume of advances provided for exports in mining and industrial sectors by the Export Development Bank of Iran from the start of the current Iranian year (started March 21,2019) till August 22 was 9.8 billion rials (around $234,976). That was 33 percent of the total bank advances," he said.
"While the figure in the last Iranian year (started March 21,2018) was 24.5 billion rials ($585,047) that accounted for 35 percent of EDBI advances and in the previous year (started March 21, 2017) it was 21,699 billion rials ($516,642) that was 35,5 percent of total advances," he added.