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News > Czech Republic Willing to Finance Irans Projects (08 October 2017)

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Czech Republic Willing to Finance Irans Projects (08 October 2017)

Czech Ambassador to Tehran Svatopluk Cumba voiced his countrys willingness to invest in Irans development projects by allocating a multi-million-dollar credit line for the same purpose.

"Czech Republic is planning to allocate a credit line of €100 million to support Iran’s infrastructure projects," Cumba said on Sunday.

Cumba said an agreement will be signed between the two countries for the same purpose in the near future.

The Czech envoy emphasized that a significant number of his countrys businesses were eager to enter the Iranian market to use its potentials.

The value of Iran’s trade activities with the Czech Republic reached a total of $27.1 million over first half of 2017.

The announcement of a new credit line for Iran investments follows several other recent moves in the same direction.

In late September, Iran saw a historic opening in banking relations with Europe after banks from Austria, Denmark and France signed deals to establish credit lines for investments in the country.

The biggest such credit line was created by Austria’s Oberbank which signed deals with 14 Iranian private companies to allocate €1 billion for investments by Austrian companies in the country.

Another was created by Denmark’s Danske Bank with a total lending value of €500 million.

To the same effect, France’s state investment bank Bpifrance (BPI) announced plans to support French enterprises in their investments in Iran.  

Source: FARS - Date: (08 October 2017) 

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