Young Journalists Club | Latest news of Iran and world

News ID: 12557
Iran » Iran
Publish Date: 16:05 - 30 August 2017
TEHRAN, August 30- Iran said it expect to ink foreign finance contract worth about $30 billion in next few months.

Iran to receive $30bln through finance dealsTEHRAN, Young Journalists Club (YJC) - "Contracts worth $29 billion to $30 billion will be inked with four European countries and an Asian country in less than a month," Head of the Organization for Investment, Economic and Technical Assistance of Iran Mohammad Khazaei said.

The funds would be given by Austria, Denmark and Italy, adding that Iran’s discussions with Japan "is mostly probable to result in an agreement in the next few months".

The official made the remarks at the 28th Annual Islamic Banking Conference held in Tehran.

He also continued that Iran would have to elevate its interactions with international lenders in order to pave the way for its planned foreign finance deals.

Khazaei also emphasized that adequate actions had been taken so that Iran would not be heavily indebted as a result of such deals.

Last week, Iran signed what was later described as its biggest credit line deal in recent years with South Korea’s Eximbank.

The deal envisaged providing as much as €8 billion in loans to finance various projects by South Korean companies in Iran.

The development was seen as a landmark sign in Tehran that showed the return of global trust to the Islamic Republic.

This, as Governor of Central Bank Valiollah Seif wrote in an editorial, was specifically important for Iran given that it came after years of sanctions against Iran.

“As a result of the tyrannical and illegitimate sanctions against the country, not only the provision of new credit lines to finance the construction and production projects of the country was stopped, but the repayment of some of the former loans was also hampered by the disappearance of payment channels," Seif wrote in his editorial in the Persian-language newspaper Jahan-e Sanat.



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