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FRENCH BANK EXTENDS US$1 BILLION CREDIT TO IRAN.

AsiaPulse News

| August 01, 2001 | COPYRIGHT 2001 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

LONDON, Aug 1 Asia Pulse - Credit Agricole Indosuez (CAI) has become the second major French bank to provide multi-source buyer credits with Iran's five largest banks worth up to US$ 1 billion for European exporters.

Michel Perrin, CAI international finance executive with responsibility for Iran and Turkey, said that "the interest of European companies is rising", in regard to the European Union's growing trade with Tehran.

"The financial situation of Iran today is exceptionally good. Oil receipts are rising and they are managing the economy better," he was quoted saying by the Financial Times Tuesday.

CAI announced ...

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