By John Lee.
The Export-Import Bank of China (EXIM) is set to provide funds for the development of the Iranian petrochemical and telecommunication projects, following an agreement with Iran’s Bank Tejarat.
Bank Tejarat has reportedly announced in a statement that the next segments that could benefit from the scheme are the automobile industry as well as the energy sector.
The deal also covers the provision of financial guarantees for projects that are to be carried out by Iranian and Chinese companies, in addition to those from third countries.
EXIM bank is also prepared to provide insurance coverage for Iran’s import and export activities.