china provides 10 billion credit line to iran
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

China provides $10 billion credit line to Iran

Arab Today, arab today

Arab Today, arab today China provides $10 billion credit line to Iran

Iranian President Hassan Rouhani shakes hands with Chinese President Xi Jinping
Tehran - Arab Today

A Chinese state-owned investment firm has provided a $10 billion credit line for Iranian banks, Iran's central bank president said Saturday.

The contract was signed in Beijing between China's CITIC investment group and a delegation of Iranian banks led by central bank president Valiollah Seif.

The Iran Daily said the funds would finance water, energy and transport projects.

Iran is vital to China's trade ambitions as it develops its trillion-dollar "One Belt, One Road" strategy aimed at dramatically boosting its ties to Europe and Africa.

In addition to the credit line, the Export–Import Bank of China committed to a further $10 billion in loans, while the China Development Bank signed preliminary deals with Iran for $15 billion in infrastructure and production projects, Seif announced.

The contracts reflect "a strong will for continuation of cooperation between the two countries," Seif said.

In total, China has agreed to allocate $35 billion in financing and loans for Iran's economy, state news agency IRNA quoted Seif as saying.

The credit line will use euros and yuan to help bypass US sanctions that have continued despite the nuclear deal between Iran and world powers in 2015.

China was a signatory to the deal that lifted sanctions in exchange for curbs to Iran's nuclear programme.

President Xi Jinping visited Iran a week after it came into effect, vowing to boost bilateral trade to $600 billion within a decade.

Although trade was just $31 billion in 2016, it jumped more than 30 percent in the first six months of 2017.

China is already Iran's biggest oil customer and accounts for a third of its overall trade.

Since the lifting of sanctions, Beijing has opened two credit lines worth $4.2 billion to build high-speed railway lines linking Tehran with Mashhad and Isfahan, the Iran Daily reported.

The latest move follows an eight-billion-euro credit deal signed with South Korea's Exim bank last month.

European banks remain wary of penalties from Washington for working with Iran, but talks are said to be at an advanced stage for $22 billion in credit deals with banks from Austria, Denmark and Germany.

China's new $10 billion credit line will go to Iran's Refah Kargaran, San'at va Ma'dan, Parsian, Pasargad and Tose'e Saderat banks.

Source: AFP

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

china provides 10 billion credit line to iran china provides 10 billion credit line to iran

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

china provides 10 billion credit line to iran china provides 10 billion credit line to iran

 



GMT 09:16 2017 Wednesday ,13 December

Cape wearing tips

GMT 20:49 2017 Monday ,21 August

South Asia floods claim more than 750 lives

GMT 19:06 2016 Saturday ,10 December

IOF Close Al-Nabi Saleh Village's Entrance

GMT 18:01 2017 Wednesday ,22 February

Abu Sayyaf ‘likely’ behind Vietnam freighter attack

GMT 06:41 2017 Sunday ,03 December

Hamas threatens 'intifada' over US moves on Jerusalem

GMT 16:17 2017 Saturday ,21 January

BMW 7 series crosses 5,000 unit mark in 2016

GMT 12:17 2016 Wednesday ,24 February

United Technologies nixes Honeywell merger

GMT 23:37 2017 Monday ,31 July

Saudi Arabia sanctions Hezbollah member

GMT 05:45 2018 Saturday ,29 September

Abdullah bin Zayed hosts official reception in New York

GMT 04:12 2018 Friday ,12 January

Saudi-led coalition says Yemen rebels threat

GMT 11:18 2014 Monday ,22 December

Richard Ward adds to The Chelsea Collection

GMT 21:20 2017 Monday ,06 February

UN resumes food air drops in Deir Ezzor

GMT 22:24 2017 Friday ,15 December

HRH Premier thanked by Cambodian counterpart

GMT 02:11 2017 Monday ,23 October

Oct24/Nov22

GMT 21:31 2017 Monday ,11 December

HM King congratulates Burkinabe President

GMT 20:22 2017 Monday ,23 October

EU deplores attack against police
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday