As reported by the Department of Public Relations, Organization for Investment, Economic and Technical Assistance of Iran, Alishiri continued: International Islamic Trade Finance Corporation (ITFC) affiliated to the Islamic Development Group, approved a loan amounting 50 million dollars for an Iranian company to finance importation of raw material.
He noted: International Islamic Trade Finance Corporation has also accepted applications made by two Iranian companies for financial facilities of $ 60 million for importing raw materials.
Alishiri referred to the willingness of domestic companies to enjoy trade facilities of the Islamic development Bank through ITFC and said: the domestic companies may get the terms and conditions for using the IDB facilities at the website of the Organization for Investment, Economic and Technical Assistance of Iran at: www.investiniran.ir
It is worth mentioning that the International Islamic Trade Finance Corporation (ITFC), affiliated to the Islamic development Bank, was created aiming at facilitating foreign and international trade among Islamic countries through providing trade finance as well as participation in activities related to expansion and enhancement of trade. Iran is the second shareholder of the Islamic development Bank.
Based on the report, by now, some 4.750 billion dollars short-term and long-term credits have been approved by the Islamic development Bank for the implementation of development and manufacturing projects of the country, as well as for importation of raw materials and spare parts needed by the various industries.