Foreign countries to allocate 22-billion-euro line of credit for Iran

Tehran (ISNA) – The governor of Central Bank of Iran announced that lines of credit worth 22 billion euros will be allocated to Iran in coming days for implementation of various projects.
“Austria, Denmark, Italy and some other countries will open a 22-billion-euro line of credit for Iran in coming days” the CBI governor Valiollah Seif said.
Mentioning that a separate eight-billion-euro LOC has been recently signed with South Korea, he noted, “These lines of credit will led to further investment and a rise in production and employment in Iran”.
“Iran would have never obtained these outstanding achievements, if the nuclear deal known as the Joint Comprehensive Plan of Action (JCPOA) was not signed” Seif stressed.
CBI governor also stress the need to follow up compliance of Iran’s economic activities with international standards referring to adequate international banking ties as a necessary prerequisite to the process.
“More than 750 broker relations have been formed following JCPOA implementation thanks to assistance provided by the Iranian Foreign Ministry,” he continued.
The official stated that Central Bank of Iran was in talks with several foreign counterparts to open joint account in a bid to alleviate the need for foreign exchange in transactions.