Export Guarantee Fund of Iran (EGFI) has reached an agreement with Kurdistan Regional Government of Iraq to open a credit line for trades between Iran and Kurdistan.
The credit line will be worth 200 million dollars and gives a time expand of 40 days to Kurdish buyers of Iranian goods to clear their purchases to Iranian exporters.
The Kurdistan Regional Government will guarantee the payment by Kurdish buyers and the credit line can be expanded up to one billion USD.
Iran tries to tighten its bonds with the neighboring countries, Iraq and Afghanistan. The Head of EGFI, Afruz Bahrami, says that although these two countries are counted as high risk, but Iran treats them as low risk to be able to expand business with them.