Iran talks with Europe to open lines of credit

TEHRAN, Oct. 15 (MNA) – Pointing to CBI’s talks with several European and Asian countries to open lines of credit, Deputy Economy Minister said it is expected that finalizing these talks could increase foreign investments.

Mohammad Khazaee, Deputy Minister of Economic Affairs and Finance said Sunday, that these programs are adopted by high ranking delegation of investment and a license has been issued as well.

Some of our negotiations with foreign delegations have led to sealing of final contracts, investments and financial agreements.

The deputy minister stated that South Korean line of credit with a worth of 8 billion dollars, was among the first agreements which were finalized. Both the private and public sectors could employ the finance to execute their plans.

In addition, Khazaee mentioned an investment agreement for a 10 billion dollar line of credit with a Chinese financial institute, noting that “over the past three weeks, a contract of 1 billion euro was finalized with the biggest Austrian bank as well as an extendable line of credit with Denmark’s Dankse Bank valued at 500 million euros.”

The head of Organization for Investment further pointed to financial deals with Russia, a part of which will fund the project for building a power plant in the southern part of the country.

As stated by Khazaee, Central Banks of Iran is currently in talks with three European and Asian countries, which will hopefully increase foreign investments.

So far, foreign investment in Iran amounts to 14 billion dollars, the Iranian official said. He further added that if the bureaucratic rules are reduced and business atmosphere is improved, they could accelerate utilizing the newly injected financial resources which will be allotted to fund infrastructure projects.

ZG/4113728

News Code 128632

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