EDBI Loans to Promote Exports

EghtesadOnline: The Export Development Bank of Iran—the EXIM Bank of Iran—is set to dole out loans worth 3 trillion rials ($78.7 million) through the National Development Fund of Iran, the country’s sovereign fund, to boost the export of industrial and mining products, the bank’s official website announced.

News ID: ۷۷۸۳۷۵

15 August 2017

The duration of the scheme is two years, which started on July 30, with an interest rate of 11%. The ceiling of the loans for each legal entity and individual is 400 billion rials ($10.5 million) and 50 billion rials ($1.3 million) respectively. As per the scheme, EDBI would provide the aforementioned amount on condition that the shareholder’s equity ratio is not less than 20%. The shareholder’s equity ratio could be calculated by dividing the total shareholders’ equity to the firm’s total assets, according to Financial Tribune.