Economy, Business And Markets

Italians Offer Insurance Services

Italians Offer Insurance Services Italians Offer Insurance Services

Iranian authorities have signed a deal with two Italian companies to finance and insure industrial projects. The representative of visiting Italian insurer Servizi Assicurativi del Commercio Estero signed the deal with Iranian authorities this week.

Italian lender Mediobanca will provide credit for the projects while SACE will insure the credit, and the Iranian Economy Ministry will guarantee them, an executive of the Organization for Investment and Technical Assistance of Iran told IRNA.

“This agreement allows Mediobanca to finance Iranian industrial projects after the removal of banking restrictions,” said Khani Oshani. “No cap was set for the funding, but Mediobanca has set aside $2 billion for the contract.”

The deal was signed after Italian Foreign Minister Paolo Gentiloni held talks with officials in Tehran on Tuesday, the latest in a series of European officials seeking closer trade ties with Iran after its nuclear deal with world powers.

Senior government ministers from France, Germany and Serbia have been among visitors to Iran since the July 14 accord that raised the prospect of banking and trade sanctions on Iran being lifted, perhaps around the end of this year.

Investment bank Mediobanca said in a statement that it, along with Italy’s Development Ministry and export credit agency SACE, signed a memorandum of understanding during the visit with the officials of Iran’s Economy Ministry and its central bank.

“The aim of the agreement was “to facilitate future economic and commercial relations between the two countries,” the statement said.