South Korea has opened a line of credit for 8 billions of euros for projects in Iran, the largest contract of its kind in recent years. A move desired by the Iranian government that has a vital need for foreign investment. According to Iranian media the line of credit was inaugurated by the Korean Eximbank and the 8 billions of euros (9,4 billion dollars), will finance the projects of South Korean companies in the Middle Eastern country. The investment will be implemented through agreements between the Eximbank and 12 Iranian banks, reported the governor of the Iranian central bank, Valiollah Seif. Before South Korea, it was China, in the now distant 2015, to grant a $ 10 credit line to Iran. "The spell against the arrival of capital in Iran has been broken," the Tehran reformist daily, Sharq. The official IRNA agency, writes that after this agreement "a big barrier breaks and the banks that were afraid to cooperate with Iran, now know they can fund projects in Iran undamaged. It is expected that after the Korean banks, including Japanese and European banks, they will start cooperation with Tehran ". Central bank governor Valiollah Seif said in an interview with the Jahan-e-San'at newspaper that the agreement demonstrates the "return of international confidence in the Iranian banking system. The overly triumphal tones of the government-mediated media, following the agreement with South Korea, also reveal the fact that President Hassan Rohani is under pressure; architect of the nuclear agreement to restore good relations with the West, inside is increasingly criticized by the conservative opposition, which questions the tangible results that this agreement has entailed. On the other hand, Rohani is grappling with a strong pressure from the US that would want to ditch the nuclear agreement at all costs. Something that Rohani can not afford, since it has just focused on peace with the rest of the world to attract foreign investment and reduce inflation and unemployment and give back to the economy. According to Iran's five-year development program, in the space between 2016 and 2021, the nation must be able to get 65 billions of dollars of foreign investment, the IRNA agency deputy director explained to the agency. 'Organization for economic investments and technical assistance of Iran, Akbar Qahremani. According to the member of the Chamber of Commerce, Industry, Mining and Agriculture of Tehran, Abbas Argoon, it is not enough to get investments and the real challenge is how to use them.
