Iran signs first post-sanctions ECA deal with India Exim

(Trade and Export Finance, London, 9 March 2016) The Export-Import Bank of India (India Exim) last month signed a $150 million line of credit with Iran's Bank of Industry and Mine (BIM) to finance rail upgrades in Iran. The deal, which will finance the supply of 150,000 tonnes of steel railway tracks from Indian exporter State Trading Corporation, is Iran's first post-sanctions export finance agreement... The project is linked to a wider Chinese-backed project to electrify more than 900 kilometres of railway between the capital of Tehran and the north eastern city of Mashad.