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TEHRAN, September 15 - Chinese CITIC Trust is going to provide Iran with $10 billion credit line for supporting projects in the country.
TEHRAN, Young Journalists Club (YJC) - The Chinese company and five Iranian banks signed the agreement at CITIC Group headquarters in Beijing on Thursday.
Export Development Bank of Iran, Bank of Industry and Mine, Parsian Bank, Bank Pasargad Iran and Refah Bank are designated to act as the agent banks for using the Chinese finance on water management, energy, environment and transport projects in Iran.
The Iranian delegation, led Governor of the Central Bank of Iran Valiollah Seif arrived in China in a bid to develop banking interactions, Financial Tribune reported.
The Iranian delegation plans to ink a MoU with the Development Bank of China on financing construction and production projects worth €15 billion.
The mission is also set to hold a meeting with Bank of China's Regulatory and Regulatory Commission (CBRC).
The Beijing-based CITIC Group Corporation, formerly the China International Trust and Investment Corporation, is a state-owned investment company established in 1979. It now owns 44 subsidiaries, including China CITIC Bank, CITIC Holding, CITIC Trust Co.
and CITIC Merchant Co. Ltd in China, Hong Kong, the United States, Canada, Australia and New Zealand.
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