EU banks to allocate 3B euros credit to Iran
Baku, Azerbaijan, Sept. 5
By Fatih Karimov – Trend:
A consortium of six European banks is negotiating with Iran’s Bank of Industry and Mine to allocate a credit line to Iran, Ali Ashraf Afkhami, chairman of the Iranian bank, said.
Talks are still underway for allocating a credit, worth three billion euro to the Islamic Republic, Afkhami said, IRNA news agency reported Sept. 5.
He did not unveil the name of the European banks.
The Bank of Industry and Mine has already signed a $100 million line of credit with South Korea which can be increased in the future, Afkhami said.
Talks also are underway with a Chinese bank for opening a line of credit worth $1 billion, he said, adding that China has earlier allocated $1.8 billion worth of credit to Iran.
Last February Iran’s Bank of Industry and Mine signed a $400 million line of credit with the Export-Import Bank of India (India Exim), the Islamic Republic’s first post-sanctions export finance agreement.
Achievement of the Joint Comprehensive Plan of Action (JCPOA), a lasting nuclear deal between Iran and the P5+1 group (Russia, China, the US, Britain, France and Germany), terminated all nuclear-related sanctions on the Islamic Republic. The agreement took effect on January 16.