$7.2b Foreign Loan Secured

The Central Bank of Iran has received $7.2 billion from three foreign banks, namely Exim Bank of China, Italy’s Mediobanca and Denmark’s Danske Bank, a top CBI official announced on Saturday. “The CBI plans to attract $10 billion in foreign finance for implementing one of its future projects, 72% of which have been realized so far,” Tasnim News Agency quoted Gholamali Kamyab, CBI’s deputy for foreign exchange affairs, as saying. He added that CBI expects the whole plan to materialize by the end of 2017. The project is in line with plans for promoting Resistance Economy, said the official without providing more details. Resistance Economy refers to a set of principles outlined by the Leader of Islamic Revolution Ayatollah Seyyed Ali Khamenei for bolstering domestic production and curbing oil dependence.