Iran, Italy agree on $5b banking credit line

(Tehran Times, Tehran, 1 December 2015) Iran and Italy have agreed to open a $5-billion credit line, in a bid to pave the way for optimal banking and economic ties between the two countries once sanctions against the Islamic Republic are lifted. The credit line is projected to take effect one day after the implementation of the Joint Comprehensive Plan of Action (JCPA), a document drafted and signed by Iran and world major powers as a solution to Iran’s nuclear program.