EDBI Loans Double

The total amount of loans allocated by the Export Development Bank of Iran—the country’s Exim bank—in the last two years has almost doubled, the director of EDBI’s Marketing Department announced during a meeting with businesspeople from Mazandaran Province.”As of March 21, 2015, the loans reached 89 trillion rials ($2.33 billion), which currently stand at 175 trillion rials ($4.6 billion),” Habib Ahmadi was also quoted as saying by the bank’s official website. According to the official, 63% of the credits have been doled out in the form of working capital to be used by manufacturing and export-oriented units, while 37% were allotted to other viable plans. Ahmadi attributed the bank’s achievement to efforts made to increase its capital over the past two years, including through the National Development Fund of Iran–the country’s sovereign wealth fund.