Austrian Bank to Finance Iranian Deals

By John Lee.

Austria’s Oberbank will reportedly provide credit for Austrian companies doing business in Iran.

Chief Executive Franz Gasselsberger (pictured) told Reuters that the deal will be signed at ceremony on 21st September at its headquarters in Linz, adding that he has “very concrete projects in the fields of infrastructure, rail, health, hospital construction, factory building, photovoltaics, hydro power.”

Export credit guarantees covering 99 percent of a project’s volume will be provided by the Oesterreichische Kontrollbank.

Executives from 10-to-12 Iranian banks are expected to attend the signing.

(Source: Reuters)

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