Iran, Belarus to Open €5bn Export Credit Line

By John Lee.

The Minister of Industry, Mine and Trade has announced that the Export Development Bank of Iran (EDBI) will make available €5 billion of credit for the export of Iranian products to Belarus.

Speaking on the sidelines of 14th Iran and Belarus Business Forum, Mohammad Shariatmadari said, “the bilateral development between Iran and Belarus strictly hinges on removing banking problems.

Mehr News quotes him as saying that there is a good banking relationship between the two countries, adding, “issuance of guarantee letter, transfer of money and SWIFT (Society for Worldwide Interbank Financial Telecommunications) system have been established between banking industry of the two countries but the brokerage level is not yet satisfactory.

The Belarusian Minister of Industry commented that trade between the two countries will top $500 million in coming years.

(Source: Mehr News)

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