Economy, Business And Markets

EDBI, Hungarian Bank to Sign Deal

EDBI, Hungarian Bank to  Sign DealEDBI, Hungarian Bank to  Sign Deal

Export Development Bank of Iran and Hungarian Export-Import Bank will soon sign a deal to start correspondent relations. Ali Salehabadi, the EDBI chief, said that the planned deal would help the two banks to offer credit, including for importing industrial equipment, Shada reported on Sunday. He also noted that the two banks might also form a syndicate to finance major projects. He said his bank has established correspondent relations with 60 European banks, including banks in Germany, Belgium, Denmark and Italy. The state-owned EDBI specializes in export/import funding. The government has recently provided the bank with enough resources to finance exporters of domestic goods at lower rates.