Within the framework of the € 8 billion financing agreement between Iran and Korea, the long-term financing agreement between Parsian Bank and the Bank of Korea’s Ezim Bank was signed by the parties.

According to the Parsian Bank Public Relations Corp., the bank is one of the 12 Iranian banks that concluded a long-term financing contract with the Azerbaijani Bank of Excellence at a value of 8 billion euros, in line with the agreement of the Central Bank. The field of finance contracts is ready to review the agency’s approval of the projects submitted by the applicants.

Under this contract, South Korea’s Ezim Bank, through its Iranian banks, is focusing on financing various projects in our country in the fields of construction and production, and the result of this understanding is the launch of many construction and manufacturing projects that have a very positive impact on the country’s economic growth.

The aim of this project is to provide mid-term financing (with a final payback period of up to 10 years) to purchase goods and services from South Korea for implementation of industrial and industrial infrastructure projects and development projects in Iran, and the Ministry of Economic Affairs and Finance in order to The guarantee of repayment of facilities received under the contract is subject to the issuance of a repayment guarantee.

Also, in the form of the above agreement, the equivalent of EUR 100 million was issued as a short-term currency exchange facility (refinancing), which was opened in the form of short-term financing for the purchase of basic, essential, medical and medical supplies (With a maximum refund period of 180 days) and raw materials for production units (with a maximum 360-day repayment period) by Iranian buyers from South Korean exporters.

Interest rate for 180-day facility with Yoribir (6-month interest rate on interbank liens) with a profit margin of 18%; and for a 360-day facility with a six-month period with a margin of 2.2%, as well as a maturity of credit, up to a maximum of 7 months; Non-extendable.

The currency type is a euro-denominated document that bank branches can coordinate with the International Finance Management Authority if requested to use any of these facilities and take the necessary steps to obtain the facility.

Source » farsnews