Korea Eximbank will enter Iran with 7 billion euros financial package

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Korea Eximbank will enter Iran with 7 billion euros financial package

The Export-Import Bank of Korea (Korea Eximbank) said it will enter the Iranian market after sanctions against the country were recently lifted.

The bank introduced a new financial package amounting to 7 billion euros ($7.6 billion) on Tuesday. It said it will provide 5 billion euros to Korean companies that would like to invest in Iran.

Korea Eximbank said it will work with Iranian banks to raise the credit limit for loans provided by the Korean bank to companies looking to operate in Iran.

The bank also signed a memorandum of understanding last year with the Organization for Investment, Economic and Technical Assistance of Iran to cooperate on building new hospitals there.


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