Sunday, October 1, 2017

Iran, China Sign $10 Billion Finance Deal

FINANCIAL TRIBUNE - Thursday, September 14, 2017 

China's CITIC Trust will extend $10 billion credit line for supporting projects in lran, based on an agreement signed between the company and five Iranian banks at CITIC Group headquarters in Beijing on Thursday.  Export Development Bank of Iran, Bank of Industry and Mine, Parsian Bank, Bank Pasargad Iran and Refah Bank are designated to act as the agent banks for using the Chinese finance on water management, energy, environment and transport projects in Iran, the official news portal of the Iranian government reported.  The Iranian delegation, headed by Valiollah Seif, the governor of the Central Bank of Iran, has traveled to China in an attempt to enhance bilateral banking relations.  The Iranian mission is scheduled to sign a memorandum of understanding with the Development Bank of China on financing construction and production projects worth €15 billion.

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