0920 GMT August 17, 2018
Iran and Denmark have signed two cooperation documents one of which was an agreement to launch a €500 million-line of credit (LC) with Danish Donske Bank, IRNA reported.
The LC was signed between ten Iranian banks including Keshavarzi Bank, Melat Bank, Pasargad Bank, Sepah Bank, Parsian Bank, Saman Bank, Tejarat Bank, Bank Melli Iran, Bank of Industry and Mine and EN Bank, and the Donske Bank of Denmark.
Donske Bank is active in 16 countries and it provides banking services, insurance and house for customers.
During the signing ceremony, Head of Organization for investment Economic and Technical Assistance of Iran Mohammad Khazaie appreciated the cooperation between Iranian and Danish financial bodies.
Meanwhile, Head of Donske Bank for Middle East and North Africa Karsten Stroyberg said, “Today we are signing an agreement with ministry of finance in Iran, a document, a memorandum of cooperation that we have been discussing for more than a year and today we have it to sign meaning that it becomes clear that the recent opportunity for transactions between Danish and Iranian companies for the financing of the transactions. It will also mean that EKF will try to attract more Danish banks to come to Iran and do business there; it will also try to attract Danish companies to come for transactions between Danish and Iranian companies for the financing of the transactions.”
“It will also mean that EFK was trying to attract more Danish banks to come to Iran, but the link in the chain for opening the channel between two countries is really weak, financial link that we need more banks to get involved with business in Iran.”
The second document which was signed between both sides was a cooperation document with EKF (Exim Bank) based on which EKF would be able to finance infrastructural projects.
In the meantime, Head of EFK Jern Fredsgaard Sorensen said “I don’t know about the details of the agreement but of course signing will facilitate the financing channel between Denmark and Iran.”
In response to a question regarding the current situation, he said, “Improving, I thinks it is a significant step to be taken today so you can compare it to opening a tunnel through mountain next thing that we need is to put a train on the rail.”