The Export Development Bank of Iran has opened credit lines for subsidiaries of Bank Melli Iran in Russia and Bank Mellat’s subsidiary in Armenia worth $15 million. Ali Saleh Abadi, the CEO of EDBI said that his bank has provided Mir Business Bank and Mellat Bank Yerevan with $10 million and $5 million lines of credit, respectively, banker.ir reported on Monday. He said the bank in Iraq has also received the EDBI credit line but did not name the bank and the amount of credit. EDBI charges these banks 4-5% interest payable in euros.
