China Development Bank (CDB)

Central Bank of Iran (CBI) and China Development Bank (CDB) inked a cooperation agreement worth 15 billion euros to provide financing facilities for development projects. (September 16, 2017).

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September 2017 - In addition to the credit line, the Export–Import Bank of China committed to a further $10 billion in loans, while the China Development Bank signed preliminary deals with Iran for $15 billion in infrastructure and production projects, Seif announced.

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"Iran says it has signed two memorandums of understanding (MoUs) with two major Chinese banks to provide loans for its key development projects. The banks that will provide the loans to Iran are the Export-Import Bank of China (EXIM) and China Development Bank (CDB). They signed the MoUs with Iran during a visit to Beijing by the country’s Minister of Economy and Financial Affairs Ali Tayyebnia. EXIM had already signed another basic agreement with Iran to finance a high-speed train service between Iran’s capital Tehran and Mashhad in the north-eastern province of Khorasan Razavi. The bank signed the agreement with Iran’s Ministry of Roads and Urban Development in January. Tayebnia arrived in Beijing on Monday at the head of a high-ranking delegation to participate the 16th meeting of the Iran-China joint economic commission, which was held on Tuesday and Wednesday. The Iranian minister later met China’s Vice Premier Wang Yang who urged Iran to take their bilateral cooperation to the next level." (Press TV, "China seals deals to award loans to Iran," 08/18/2016).