German banks poised to finance projects in Iran

Underscoring the vitality of implementing Iran’s nuclear deal with the six world powers- known as the Joint Comprehensive Plan of Action (JCPOA) - Schäuble said that his country welcomes expansion of banking cooperation with Iran, Tasnim news agency reported on Tuesday. 

The Iranian foreign minister, who had traveled to Berlin to deliver speech in the European Council on Foreign Relations (ECFR) Annual Council Meeting, also visited German Economic Affairs and Energy Minister Brigitte Zypries, IRNA reported. 

In this meeting, Zarif called Iran a reliable partner for Germany for manufacturing goods and exporting them to Middle Eastern countries.

Zypries, for her part, expressed content about the current annual three-billion-dollar bilateral trade between the two countries, saying that Germany is interested in boosting political and economic cooperation with Iran in all areas via fortifying insurance and banking ties.

During the meeting, Hermes, the official German export credit insurance agency, announced readiness to back investing projects in Iran, especially those in power and energy sectors.

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