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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    Austrian "Ober" is the first European bank to fund projects in Iran

    Rocky
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    Austrian "Ober" is the first European bank to fund projects in Iran Empty Austrian "Ober" is the first European bank to fund projects in Iran

    Post by Rocky Sun 10 Sep 2017, 3:16 pm

    Austrian "Ober" is the first European bank to fund projects in IranAustrian "Ober" is the first European bank to fund projects in Iran 13960604501162_PhotoI
    The Austrian bank will sign an agreement with Iran this month that will allow it to finance new projects there, the bank's chief executive said, becoming one of the first European banks to do so since easing the ban on Tehran.
    The deal, signed by Tehran in 2015 with six major powers, lifted a lot of ban in exchange for a reduction in its nuclear activities and technically paved the way for international companies to conclude agreements with Iran.
    But many banks are reluctant to enter the country for fear of inadvertently breaking US "sanctions", which could lead to large fines.
    The bank is due to host a signing ceremony on September 21 at its headquarters in Linz with envoys from the central bank and the finance ministry, Franz Gasselsberger, chief executive of Austria's seventh-largest bank, Austria, which has a budget of around 20 billion euros ($ 24 billion), said. Iran.
    Gasselsberger told Reuters on Thursday that executives from 10 to 12 banks from Iran would also sign the deal, which would allow the bank to provide credit to Austrian companies operating in Iran.
    "I think we are the first European bank (to reach a similar agreement)," he said in a telephone interview, based on information he received from the Iranian authorities.
    "It is clear that some Germans and Italians are also conducting negotiations," he said, adding that a Danish bank was also in talks. He declined to name any of those companies, but Denmark's Danske Bank said in January it was negotiating with Iran's central bank.
    Guarantees
    Ubar's agreement with Iran includes projects by Austrian companies in Iran for more than two years in previously banned areas.
    Gasselsberger said Ober Bank was already financing exports to Iran in sectors such as food.
    "We have very strong projects in the fields of infrastructure, transport, health, hospital construction, plant construction, photovoltaic and hydroelectric power," he said.
    Export credit guarantees covering 99 percent of the projects will be provided by Ostrich Control, its main Austrian bank.
    "The point was to get additional security from the Iranian Republic," Gasselsberger said. "We negotiated with the Iranian central bank, but it is clear that the guarantee will come from the Iranian finance ministry."
    Although Iranian President Hassan Rowhani canceled a visit to Austria in March 2016, officials of Iranian companies made the visit and signed initial agreements with Austrian export companies.


    http://ar.farsnews.com/economy/news/13960616001060

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