Iran says credit line with Russia to boost trade
Tehran (ISNA) - Iran says it expects
a recent agreement with Russia over the creation of a credit line to fund
Iranian projects to help promote trade between the two countries.
Iran’s minister of economy and
financial affairs Masoud Karbasian said the credit line would be provided by
three Russian banks which he said would be led by the country’s Eximbank.
Karbasian added that based on the
agreement with Russia, a mechanism would be created to conduct barter deals
with Russian traders.
This, he emphasized, would
facilitate Iran’s purchases of goods and services from Russian businesses.
In late December, four Iranian banks
signed an agreement with the Eximbank of Russia to receive “unlimited” loans,
Press TV reported.
The banks involved were Bank Sepah,
the Export Development Bank of Iran, Parsian Bank and Bank Pasargad.
Based on the agreement, Eximbank
would provide funds "without a ceiling" to the four lenders to
finance development projects in Iran, according to an announcement on the
website of the Central Bank of Iran (CBI).
Based on the recent agreement signed
in Moscow, Iran's public and private sector's approved projects will be able to
benefit from the loans, while Russian exporters can use them to export
technical and engineering services to Iran, the domestic media in Tehran
reported.
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author: D-Ezatiyan - Date: 1/6/2018