Expansion of Correspondent Banking Relations with 700 Creditable Banks

Export Development Bank of Iran's Readiness to Extend Facilities to Iranian Exporters

Managing Director of Export Development Bank of Iran stated that Iranian exporters enjoy opportunities to utilize Rial and Foreign Exchange facilities of EDBI and this bank has no restriction to extend them.
According to EDBI's Public Relations, Dr. Parvizian, Chairman & Managing Director of EDBI, in a speech on 19th of Tir (10th of July, 2009), coinciding with the 19th anniversary of Export Development Bank of Iran's activity, expressed that this bank provides various resources for facility extension such as Bank Resources, Oil Surplus Fund, Refinance Lines, Islamic Development Bank' Resources, and Resources Ratified in Iran's Annual Budget Law.

Inauguration of EDBI's 8 Branches in the Year 1388 (2009)
According to Dr. Parvizian, this bank's activities are developing by establishment of eight new branches in Ilam, Qazvin, Semnan, Shahr-e-kord, Sanandaj, Ardebil, Birjandm and Bojnourd Provinces of Iran.

Facility Extension Rate Increased Double
Managing Director of EDBI reiterated that in 1387 (2008), this bank has extended its facilities for Rial 5716 billion which indicates double increase in the bank's granted facilities.
Stating that foreign exchange guarantees have been issued this year for USD 404 million, he emphasized the volume of EDBI's foreign exchange facilities has increased by more than USD 601 million.
Expansion of Correspondent Banking Relations with 700 Creditable Banks
Dr. Parvizian announced expansion of correspondent banking relations with international banks stating that EDBI has banking relations with 700 domestic and foreign banks to render more services to its customers.
He reiterated that expansion of correspondent banking net has always been considered by this bank to facilitate international banking relations, and EDBI has been successful in establishment of banking relations with all the continents of the world.

Documentary Credits
Dr. Parvizian expressed that most of import documentary credits have been issued from Asia and Europe in the year 1387 (2008), and he added the volume of issued import documentary credits in all the continents amounted to USD 960 million.
He declared that most of export documentary credits issued by EDBI in the previous year were related to Asia, Europe and America, all amounted to USD 2 billion.
50 Buyers' Credit Agreements in all Continents

Dr. Parvizian pointed to the buyers' credit agreements stating that in the years 1386 and 1387 (2007 and 2008), 50 buyers' credit agreements concluded by Export Development Bank of Iran, and 42 agreements have been implemented so far. He added that 40 of such agreements are related to Europe and America, and 10 of them related to Oceanic and Asia.
Total amounts of these agreements are more than USD 1,871 million, and during the said two years USD 337 million has been utilized.
Pointing to the projects financed by EDBI, Dr. Parvizian reiterated that most of these projects are in the framework of humanitarian activities like construction of dams, power and water plants, and food and agricultural productions.