'Iran-Italy €5b credit agreement represents Europe’s decisiveness in expanding Iranian ties'

January 12, 2018

TEHRAN- The signed 5-billion-euro credit agreement between Iran’s Bank of Industry and Mine and Middle East Bank, and Invitalia Global Investment represents Europeans’ tendency in development of their economic bonds with Iran, IRNA quoted Managing Director of Organization for Investment, Economic and Technical Assistance of Iran Mohammad Khazaei as saying.

The agreement which was signed in Rome on Thursday between Khazaei and Italian Minister of Economy and Finance Pier Carlo Padoan is the biggest foreign finance deal reached between Iran and a member of the European Union and is expected to facilitate Italian companies invest in Iran i.e., the accord foresees the opening of lines of credit to the two Iranian banks by Invitalia, an Italian state-owned holding, in order to finance investment projects by Italian companies in Iran.

During his stay in Rome, Khazaei also visited Italian Undersecretary of State for Foreign Affairs Vincenzo Amendola on Friday, where the two sides discusses expansion of further bilateral ties.


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