British banking giant HSBC will open a $500 million credit line for Iran to finance infrastructure and development projects, a bank official told AFP here on Wednesday, November 22.
The 10-year deal will be signed in London next week, the official said, adding that the credit line will be valid for purchases from the 29 nations of the Organization for Economic Cooperation and Development (OECD).
HSBC is one of the world's largest banks with some $580 billion in assets. — (AFP)
© Agence France Presse 2000
© 2000 Mena Report (www.menareport.com )