Export-Import Bank of China (EXIM)

"The deputy head of Iran Railways announced today that a $2.4bn letter of credit was ready to be drawn for work on the high-speed rail line between Tehran and Isfahan, the Mehr News Agency reports. Noorollah Beyranvand said the money, being loaned by the Export-Import Bank of China, was ready to be paid to China Railway Engineering Corporation (CREC), the company due to carry out the work. Other companies involved are Khatam Al-Anbia Construction, which is owned by Iran’s Revolutionary Guard, Germany’s Siemens, and Italferr, the consulting arm the Italian national rail operator Ferrovie dello Stato." (Global Construction Review, " 6/10/2019).

Iran signed a contract with CREC to build Iran’s first high-speed line in 2015, and agreed the loan in July 2017. The project is expected to cost at least $1.8bn.

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"China’s Exim Bank (the Export-Import Bank of China) penned a contract with Iran’s Bank of Industry and Mine to finance $1.5 billion for signaling of Tehran-Mashhad railroad, IRIB news reported." (July 25, 2017)

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"CBI deputy governor has reported on attraction of financial resources worth 7.2 billion dollars through three international banks. Deputy Governor of the Central Bank of Iran (CBI) for Foreign Exchange Affairs Gholamali Kamyab, while pointing to foreign exchange projects pursued by CBI in the field of Resistance Economy, said attraction of 10 billion dollars of external resources remained as one objective defined by the central bank in the area of Resistance Economy. 'Measures taken by CBI in this regard include extensive negotiations with some foreign banks like Export-Import Bank of China (China Eximbank), the Italian Mediobank as well as Danske Bank of Denmark,' noted the official." (Mehr News, "Iran Attracts $7.2bn Finance From 3 Foreign Banks," 1/8/2017).

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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." (PressTV, "China seals deals to award loans to Iran," 08/18/2016).

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Central Bank of Iran (CBI) will open two euro and yuan accounts in Exim Bank of China in order to facilitate settlement of banking transactions. (“CBI to open accounts in Exim Bank of China,” Mehr News Agency (Iran), August 17, 2016.)