TEHRAN, May 09 – Central Bank of Iran (CBI) and China Export & Credit Insurance Corporation (commonly known as Sinosure) have signed a Memorandum of Understanding (MoU).
The document was sealed at a session in Tehran joined by Deputy Governor of CBI for Foreign Exchange Affairs Gholamali Kamya as well as Vice President of Sinosure Weimin Zha and his accompanying delegation.
Under the terms of the agreement, the major Chinese state owned enterprise will supply necessary export insurance for offering financing facilities to construction and manufacturing projects to be implemented in Iran and in accordance with future contracts.
As such, institutions as well as public and private companies wishing to finance their projects through Chinese fund, are able to enjoy credit coverage of Sinosure.
Speaking at the joint meeting, Vice President of Sinosure Weimin Zha expressed hope that signing of the Memorandum of Understanding, resulted from joint effort of the CBI and Sinosure, can open a new chapter in economic relations between Iran and China and its implementation will benefit both parties.