Funding will be used for projects across a range of sectors
Chinas Citic Group Corporation has signed a memorandum of understanding for lines of credit worth $10bn with Iranian banks.
The Iranian banks that signed the agreement include: Bank of Industry and Mine, Refah Bank, Parsian Bank, Bank Pasargad and Export Development Bank of Iran.
Citic will provide the loans for funding projects in areas such as energy, natural environment, transportation and the management of water resources.
In July, the Export and Import Bank of China (Exim) has signed a $1.5bn deal with Irans Bank of Industry and Mine to finance the electrification of the 926km high-speed railway that links the capital Tehran with Mashhad, the countrys second largest city located in northeast Iran.
According to regional projects tracker MEED Projects there are $168bn of projects in Iran at the pre-execution stage. There are $128bn of projects currently under execution.
You might also like...
Iran-US talks see earnest engagement
27 February 2026
Kuwait receives bids for $400m Subiya utilities plant works
27 February 2026
A partner’s perspective on working with Sharakat
27 February 2026
Egypt’s Obelisk equity move merits attention
27 February 2026
A MEED Subscription...
Subscribe or upgrade your current MEED.com package to support your strategic planning with the MENA region’s best source of business information. Proceed to our online shop below to find out more about the features in each package.
Take advantage of our introductory offers below for new subscribers and purchase your access today! If you are an existing client, please reach out to your account manager.
