(MENAFN) Foreign firms have signaled willingness to extend a credit line of USD3 billion to Iran, as they can't wait to jump right in with long profitable business relations with the Islamic republic.
Basically, foreign finances would enable the use of local resources in other economic sectors rather than on transportation, thus NITC is currently studying a number of low-priced financing proposals.
Since the last two months, the banking system, the Central Bank of Iran (CBI) and Ministry of Industries, Mines and Trade have planned to open more than 1,000 letters of credit as soon as eliminating the sanctions.
Moreover, such initiatives only reveals the huge amount of interest in the oil/gas rich nation, as a wide range of top countries have lined up to get a slice from the pile of opportunities awaiting to be tapped.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.