Iran secures 8bln euros loan

Tehran: Iran has secured an eight-billion euro credit line from South Korea´s Eximbank, the Islamic republic´s biggest loan deal since its 2015 nuclear accord, the Iranian central bank announced Thursday.

"The biggest contract since the atomic accord was signed with South Korea´s Eximbank today for the amount of eight billion euros ($9.4 billion)," said central bank governor Valiollah Seif, in a statement carried by state news agency IRNA.

A spokesman for South Korea´s export credit bank, contacted by AFP, said the deal would finance projects in Iran by companies from the Asian country. "We started signing with Iranian banks a framework agreement today. We did it with three Iranian banks today and will do so with nine other Iran banks in the coming week to complete the agreement," he said. "Under the agreement, Eximbank will provide an eight-billion euro credit line for those banks so that they can help finance various projects in Iran that are awarded to South Korean companies," said the bank spokesman. —