Iran, S Korea seal largest foreign loan agreement

News ID: 4068565 -
TEHRAN, Aug. 24 (MNA) – Iran’s Ministry of Economic Affairs and Finance inked the largest post-JCPOA foreign loan deal with South Korea’s Exim Bank on Thursday.

Mohammad Khazaee, Deputy Minister and Head of Organization for Investment and Economic and Technical assistance of Iran, signed a large credit line deal with The Export-Import Bank of Korea with value of 10bn USD.

Khazaee, while noting the good relations between Iran and South Korea as one of the economic powers in the world, deemed the deal a great step in expansion of Tehran-Seoul ties.

He said that the loan would be accessible for both state and private sectors and 12 Iranian banks would be responsible for services.

Exim Bank Senior Executive Director Sung-Hwan Choi, for his part, hailed efforts of the Iranian side in implementing the agreement calling the deal a great step in boosting economic ties of Iran and South Korea on the basis of shared interests.

Several projects in transportation, energy and health fields are already introduced and discussed with Korean side to benefit from the credit line.

PT/4068158

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