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Eximbank Provides Buyer's Credit for Iranian Copper Mill
The China Export and Import Bank (Eximbank) and the Iranian Bank Tejarat signed an agreement of credit here today on Eximbank providing a buyer's credit of 20.84 million U.S. dollars for an Iranian copper mill.
A spokesman for the Eximbank said that the loan will be used to support the second-phase project of the Iranian copper mill contracted by the China Nonferrous Metal Industry's Foreign Engineering and Construction Company Limited.
The contract is valued at 24.5 million U.S. dollars, and the credit provided by the Eximbank accounts for 85 percent of the total, he said.
He said that as a state export credit institution, the Eximbank has always paid attention to supporting the country's export of electronics and machinery products, complete sets of equipment and high-tech products.
Over the past few years, many Chinese enterprises have made their presence overseas with the aid from Eximbank, he said.
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