Credit lines worth $30b open next month

August 29, 2017

TEHRAN - Iranian Deputy Finance Minister Mohammad Khazaei said that Iran will ink deals for opening $30 billion in credit lines with some Asian countries within the next month.

Making the remarks in the 28th Annual Islamic Banking Conference in Tehran on Tuesday, the official said that discussions have been made for a long time in this regard and the Central Bank of Iran has studied the deals in detail, Tasnim news agency reported.

Referring to the contract Iran signed last week with South Korea’s Eximbank to secure an €8-billion credit line, the biggest loan deal since its 2015 nuclear accord, Khazaei, who is also head of the Organization for Investment, Economic and Technical Assistance of Iran, said that credit line deals have been also signed with Austria’s Oberbank and also an Italian bank and necessary guarantees have been secured.

Iran plans to attract $65 billion of foreign investment during its Sixth Five-Year National Development Plan (2016-21), of which $30 billion is about to come in finance, $20 billion in joint venture and $15 billion in direct investment.

MA/MG

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