china provides 10 billion credit line to iran
Tuesday 7 January 2025
Last Updated : GMT 09:03:51
Almaghrib Today, almaghrib today

China provides $10 billion credit line to Iran

Almaghrib Today, almaghrib today

Almaghrib Today, almaghrib today China provides $10 billion credit line to Iran

Iranian President Hassan Rouhani shakes hands with Chinese President Xi Jinping
Tehran - Al Maghrib 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

almaghribtoday
almaghribtoday

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

 



Almaghrib Today, almaghrib today Skincare PR Performance Full Year 2017

GMT 09:22 2018 Monday ,22 January

Skincare PR Performance Full Year 2017
Almaghrib Today, almaghrib today New hunt for flight MH370 gets under way

GMT 11:03 2018 Wednesday ,24 January

New hunt for flight MH370 gets under way
Almaghrib Today, almaghrib today Modern colorful bedroom renovation

GMT 10:57 2017 Thursday ,21 December

Modern colorful bedroom renovation
Almaghrib Today, almaghrib today Puigdemont candidate for Catalan president

GMT 13:56 2018 Tuesday ,23 January

Puigdemont candidate for Catalan president
Almaghrib Today, almaghrib today Turkey detains dozens more

GMT 10:47 2018 Wednesday ,24 January

Turkey detains dozens more
Almaghrib Today, almaghrib today The Rake announces editorial updates

GMT 10:46 2018 Tuesday ,16 January

The Rake announces editorial updates
Almaghrib Today, almaghrib today Europe brings on charm and blue skies

GMT 11:51 2018 Tuesday ,23 January

Europe brings on charm and blue skies
Almaghrib Today, almaghrib today For the Variety of Interior Design Styles

GMT 10:46 2017 Tuesday ,19 December

For the Variety of Interior Design Styles
Almaghrib Today, almaghrib today US Christian tourists see deep meaning

GMT 13:44 2018 Monday ,22 January

US Christian tourists see deep meaning
Almaghrib Today, almaghrib today Amazon to open first cashierless shop

GMT 10:03 2018 Tuesday ,23 January

Amazon to open first cashierless shop

GMT 10:35 2012 Monday ,04 June

Sammer: Discord can be important

GMT 16:34 2016 Thursday ,25 August

Tokyo Stock Close Lower

GMT 10:45 2012 Friday ,21 September

Amman bourse benchmark up

GMT 06:09 2013 Wednesday ,05 June

Lake in Australia found to be \'climate refuge\'

GMT 13:17 2011 Friday ,05 August

7 People killed as food aid is looted in Mogadishu

GMT 13:17 2011 Friday ,25 November

Much more than classics at Bolton\'s Dubai show

GMT 09:40 2011 Sunday ,26 June

An unlikely hero battling India\'s corruption

GMT 13:10 2015 Wednesday ,21 October

One Direction cancel concert as Liam ill

GMT 07:45 2011 Friday ,23 September

Preparations for Kuwaiti cultural event

GMT 12:55 2017 Wednesday ,18 January

'invaluable' for Man United youngsters

GMT 14:59 2011 Monday ,30 May

Bill Clements, former Texas governor, dies

GMT 14:33 2011 Wednesday ,27 April

Ben Bernanke to make Federal Reserve history

GMT 06:01 2015 Tuesday ,28 July

A-Rod celebrates 40th birthday in style

GMT 16:36 2014 Tuesday ,26 August

Veravia releases list of foods that reduce stress

GMT 02:48 2014 Saturday ,22 November

Gold rebounds on Chinese interest rates cut

GMT 13:25 2018 Monday ,22 January

Chinese, Russians shore up Middle East tourism

GMT 17:16 2018 Wednesday ,17 January

Citigroup reports steep Q4 losses tied to US tax reform

GMT 08:42 2017 Tuesday ,19 December

Syrian government troops target Homos northern
Almaghrib Today, almaghrib today
 
 Almaghrib Today Facebook,almaghrib today facebook  Almaghrib Today Twitter,almaghrib today twitter Almaghrib Today Rss,almaghrib today rss  Almaghrib Today Youtube,almaghrib today youtube  Almaghrib Today Youtube,almaghrib 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 ©

.almaghribtoday .almaghribtoday .almaghribtoday .almaghribtoday
almaghribtoday almaghribtoday almaghribtoday
almaghribtoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
almaghribtoday, Almaghribtoday, Almaghribtoday