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Extension of USD 300 million for export of goods and services to Iraq

Referring to Iraq's macro economic indices, Managing Director of Export Development Bank of Iran (EDBI) announced EDBI's readiness to finance export to Iraq.

As reported by the Public Relations of EDBI, in the Seminar on "Recognition of Iraq's Market Specifications", Dr. Parvizian prospected USD 300 million for export finance to Iraq, and added that such facilities have not been utilized completely and EDBI has extended them in terms of buyer's credit to Iraqi buyers of Iranian goods and services.
Expressing that some of Iraqi banks have been renovated by the support of that country's government, he reiterated although Iraq's economic indices are attractive, the banking system of that country requires renovation.
Managing Director of EDBI added that when there is no possibility to issue documentary credits for customers, this bank expresses its readiness to finance export agreements under coverage of Export Guarantee Fund of Iran.
Reviewing the signed contracts between the economic ministers of the two countries, Dr. Parvizian noted the contractors of economic sectors can share reconstruction of Iraq's infrastructures while utilizing EDBI's financing services.