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Iran set to finalise $30bn worth credit line

TEHRAN, August 30, 2017

Iran plans to finalise financing deals worth $30 billion with international institutions within the next month, a senior official has been quoted as saying.

Mohammad Khazaei, head of the Organization for Investment, Economic and Technical Assistance, however, dismissed claims that the credit lines will leave the country in the red, said an Iran Daily News report, citing Press TV.

These finances do not mean putting the country in debt, but they will give a capability to the economy, the plans and projects to benefit from the funds, Khazaei said.

Iran plans to attract $65 billion in foreign investment during the Sixth Five-Year Development Plan (2017-22), of which $30 billion is about to come in finance, $20 billion in economic partnership and $15 billion in direct investment, the report said.

Governor of Central Bank of Iran Valiollah Seif said the loan was a sign of return of global trust in Iran's banking system, added the report.

Tags: | Iran | Credit | line |

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