Non-Oil Exports Can Meet National Forex Demands
Non-Oil Exports Can Meet National Forex Demands
TEHRAN – The CEO of Export Development Bank says non-oil exports could meet national demands to the foreign currency and it can compensate the fall in oil sale revenues.

Addressing the 2nd conference on exports, insurance and investment, Dr. Ali Akbar Salehabadi pointed to the enemies’ efforts for reducing Iran’s oil export last year and even this year, adding, “even our oil sale is zeroed,  non-oil exports are able to provide the country with its necessary foreign currency and all related bodies to the exports along with the Central Bank can play their role by supporting the exports.”


He went on to say that financing export is an important factor and it can make goods be competitive in the international market. He said that although the Central Bank has allocated a credit-line for supporting the exports, and National Development Fund has earmarked some sources, it is still not enough. Salehabadi asserted that Export Development Bank of Iran finances exports through its domestic and foreign sources.

He added that financing petrochemical project by the EDBI worth 2.2b euros will be operational by September.

He added that the bank’s major finance will happen in the petrochemical project worth 2.2b euros and it is to become operational by September and it can earn the country $1b annually.

Salehabadi reiterated that the bank has used over 50m euros through refinancing for imports of the raw materials.


  • source : Iran news