Four Contracts Implemented with Iranian EDB

(ST)-  Director of the Commercial Bank of Syria, Firas Salman, recently said that four contract, out of 12, worth at 125 million euros were approved according to the credit line agreement signed between the Commercial Bank of Syria and the Export Development Bank (EDB) of Iran.

“The bank received the agreement of the four contractsratified with the Establishment of Storage and Marketing, Electricity Establishment, General Establishment of Mills out of 12 contracts according to the agreement signed in Tehran on 01.16.2013 to buy goods and services or the implementation of projects, “Salman said.

The Syrian government approved last month, on the recommendation of the Economic Committee, on facilitating procedures for the supply of materials and goods from Iran through the credit line agreement and the pricing mechanism of selling these items and expanding sales outlets .

It is noteworthy, that the Central Bank of Syria signed at the end of last July , an agreement with Iran ‘s central bank to implement the oil credit line estimated at $ 3.6 billion , as the two countries signed agreements in the field of power transmission and electrical equipment.

Sh. Kh.