Tehran, Iran, April 7
By Kamyar Eghbalnejad – Trend:
Germany-based Europaeisch-Iranische Handelsbank AG (EIH) has agreed to allocate 30 million euros in refinance to Export Development Bank of Iran, the head of international affairs department at Exports Development Bank of Iran, Hamdireza Maboudi told journalists in Tehran.
Maboudi said that the amount will be spent on financing imports of goods and services into the country.
The agreement has envisaged a payback period of six months for staple products, medicines as well as medical equipment and one year for raw materials. The interest rate on the loan is set at 2.75 percent.
Iran had earlier finalized similar agreements with India, China, South Korea, Denmark, Austria and Russia worth $40 billion for financing major development projects in the country.