28 August 2017 - 15:48

Details of Astronomical Foreign Loan Agreement Divulged

CEO of Iran’s Export Development Bank explained the details of Exim bank of south Korea's deal with Iranian side.
News ID : 74159

CEO of Iran’s Export Development Bank, Ali Salehabadi, revealed the details of foreign loan agreement with value of 8 billion euros between Iran and Exim bank of South Korea, adding this deal was sealed between 12 Iranian banks such as Iran’s Export Development Bank and South Korea’s Exim Bank.

Based on this agreement done by the efforts of Iran’s Central Bank and Ministry of Economic Affairs and Finance in particular the Organization for Investment and Economic and Technical assistance of Iran and also 12 Iranian banks, South Korea’s Exim Bank is set to supply financial sources in construction and manufacturing fields through Iranian operating banks.

Salehabadi stressed, within the framework of this deal the maximum period for constructing each project is 5 years and the maximum repayment period for every project is 10 years, appointed after the end of construction period.   

“This finance agreement was inked between 12 Iranian banks and South Korea’s Exim Bank, presided by Iran’s Central Bank and guaranteed by Ministry of Economic Affairs and Finance”, he said.

It is worth noting that this deal is considered as the biggest foreign loan deal in post-sanction period.

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