Iran's EDBI spreads financing activities

The Export Development Bank of Iran (EDBI) is proving to be increasingly expansive in its scope for the promotion of Iranian capital equipment exports. The activities of this bilateral developmental financing institution (DFI) mirrors the general increase in trade activity being undertaken by DFIs globally. In September, for example, the EBDI provided Ivory Coast with a a10 million credit line to finance the export of various capital goods and technical and engineering services from Iran. EBDI says the buyer's credit line was allocated to reinforce developmental cooperation, extend contract projects of technical and engineering services, and to expand marketing and export markets of Iran. In July of this year EDBI also agreed to support a $59 million power project in the port city of Gwader in Pakistan (initially the project was reported to be valued at $86 million).