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    • Parsian Bank, Exim Bank of Korea Sign Agreement on Cooperation

      Parsian Bank, Exim Bank of Korea Sign Agreement on Cooperation

      IRAN NEWS ECONOMIC DESK

      TEHRAN –Exim Bank of South Korea signed an agreement with Parsian Bank of Iran on long-term financing the bank for occupation and aid to production and progress of the country.
      According to the reports, Parsian Bank is one of 12 Iranian banks which signed agreement with the Exim Bank in the framework of the Central Bank of Iran’s agreement. The South Korean side is to provide 8-million-euro credit line for Iranian banks to finance developmental projects.
      The agreement can have good and positive impact on the economic growth. It can provide mid-term financing for Iran to buy goods or services from South Korea to implement infrastructural projects in production or industry sectors, and in return, Iranian bank can pay back the money in ten years.
      The agreement also activated short-term forex facilities for the projects which are around $100m. The credit can be used for buying essential goods.
      According to the bank’s communique, the interest rate of the credit will be around 18 percent.