Iranian projects to get €100-million credit line: Czech envoy

Tehran and Prague are going to sign an accord to secure investments in both countries, including opening a €100-million credit line for Iranian prjects, said the Czech Republic envoy to Iran on Saturday night.

‘Last December a delegation from Industrial Development and Renovation Organization of Iran (IDRO) accompanying a delegation from Iran’s Ministry of Economic Affairs and Finance held the first joint economic commission between the two countries and signed MOUs,’ said Svatopluk Cumba.

‘A glance at the economic and business exchanges between the two countries indicates a growth of Czech Republic’s exports to Iran by 60 percent over the last year; furthermore, many companies have expressed their readiness to invest in Iran,’ he also said.

‘The problem of banking is a little complicated and it is not only with Czech Republic banks but also with other countries’ banks as well and we are seeking a solution for that just like others,’ said Cumba about the banking issues.

A delegation from IDRO signed an MOU with the Czech Ministry of Industry and was introduced as the partner.

According to Czech Statistical Office in 2015, the economic relation between Iran and Czech Republic had a growth of 50 percent and the amount of trade exchanges reached $52 million.

The figure reached $27.1 million with a growth of ten percent within the first six months of current year.