Auto
0

Iran Central Bank, Carmakers Clash Over €844 Million Loan

Iran’s monetary authority has agreed to lend IKCO and SAIPA €844 million for importing auto parts.
Iran Central Bank, Carmakers Clash Over €844 Million LoanIran Central Bank, Carmakers Clash Over €844 Million Loan

To help again rescue the dysfunctional local auto industry, the Central Bank of Iran agreed last month to lend €844 million to the two main companies, Iran Khodro and SAIPA. 
Now the two sides are at each other’s threats unable to get their act together over technicalities, namely the repayment mechanism.
The CBI initially was against giving such a loan to the dysfunctional carmakers that have long earned the wrath of almost car buyers, the Persian-language economic daily Donya-e-Eqtesad reported. The newspaper is a sister publication of the Financial Tribune.

Premium

Subscribe to the Financial Tribune to continue reading this article or Log in to your account if you are already a subscriber.

Find out more about our subsciption plans here.

Add new comment

Financialtribune.com