Economy, Domestic Economy

Russian Bank to Facilitate Iranian Exports

Russian Bank to Facilitate Iranian ExportsRussian Bank to Facilitate Iranian Exports

The Export Development Bank of Iran is holding talks with a Russian bank on the establishment of a 10-million-euro line of credit to facilitate export of goods and services to Russia. Arash Sharaeeni, a member of board of directors at EGFI, made the announcement in an interview with Mehr News Agency, adding that the credit line will soon become available to Iranian exporters of home appliances. “The LoC will enable Iranian exporters of home appliances to offer delayed payment options to buyers as an incentive to increase sales, while providing the exporters with a quick return on their capital,” he noted. The fund will cover the risks associated with the financing and is prepared to increase the working capital once the 10-million-euro has been utilized for exports, he added.