Iran export bank sets 4.5 per cent rate for exporters
Azerbaijan, Baku, Feb. 8/ Trend M. Moezzi
The Export Development Bank of Iran (EDBI) has set the interest rate on credit facilities for model exporters at 4.5 per cent, the Iranian Labour News Agency (ILNA) reports.
The bank has a payment facility ceiling of 24 per cent for the industry and mines sector said Bahman Vakili, EDBI's managing director.
So far this year (Iran's solar year ends on March 20), Iran's non-oil exports reached $38 billion and it's expected to increase to $45 billion by the end of solar year.
The EDBI provides financial coverage for 1500 exporters and allocates 83 per cent of its resources for their needs, but doesn't have the capital needed to help finance importers.