Iran News ...


8/19/06

China to provide Iran with $10b credit line

TEHRAN, Aug. 18 (Mehr News Agency) - China Development Bank (CDB) has agreed to establish a $10b credit line with Iranian banks within the next two months, Mohammad Khazaii told the Persian service of Fars News Agency on Friday.

"The agreement came about during an Iranian economic delegation's visit to Peking after holding talks with the Chinese trade authorities, meeting with Iranian businessmen residing in China and several rounds of negotiations with senior officials at the development bank," the head of Iran Foreign Investment Organization stated, adding that the credit line is meant to finance civil development plans and infrastructure projects in the Islamic Republic.

A joint committee, to be established in two months, will work out details and necessary guarantees within the framework of this agreement.

... Payvand News - 8/19/06 ... --



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