"Oberbank’s line of credit contract with 14 Iranian banks in the field is very important because it paves the way for Austrian enterprises to expand their cooperation with Iran," Director of Global Financial Markets of Oberbank Helmut Edlbauer said.
He reiterated that there many small and medium companies in Austria which are interested to work with their Iranian counterparts in various sectors.
Austria's Oberbank signed a finance deal worth €1 billion with 14 Iranian banks last Thursday in Vienna; first banking credit supply agreement following the implementation of 2015 nuclear deal.
The Austrian finance is set to be used for development of civil and production projects in Iran.
Karafarin Bank, Saman Bank, Bank Refah, Bank Mellat, Tejarat Bank, Bank Melli Iran, Bank of Industry and Mine, Bank Sepah, Middle East Bank, Export Development Bank of Iran, EN Bank, Bank Keshavarzi, and Parsian Bank will act as the agent banks providing public and private sector with financial support.