Iran, South Korean Exim Bank agree to absorb €8b finance
Tehran, June 19, IRNA -- Minister of Economy and Finance Ali Tayebnia and President of South Korean Export-Import Bank (Exim Bank) Lee Duk-Hoon agreed to allocate an 8-billion-euro credit line between the two countries.
Tayebnia, who is in South Korea to attend second meeting of Asia Infrastructure Bank, met with president of Exim Bank.
In the meeting, negotiations were concentrated on supplying finance for development and infrastructure plans in the energy, petrochemical, oil and health sectors.
Officials and representatives from the Organization for Investment, Economic and Technical Assistance of Iran, Central Bank of Iran and directors from Banking system as well as officials from Exim Bank were present in the meeting.
The negotiations started since one year ago.
The Korean side expressed interest to supply finance for the development and infrastructural plans in the aforementioned sectors and called for introducing related plans and preparing appropriate grounds for South Korean companies’ activities in Iran.
During consultation process of visiting Korean delegation in Tehran following implementation of JCPOA, South Korea expressed its banks' readiness to allocate credit lines and finance plans in Iran.
Asian Infrastructure Investment Bank is an international financial institute, which was founded upon China proposal and Iran is one of its shareholders.
SOURCE : IRNA