Hungary's Export-Import Bank agreed to open an 85-million-euro line of credit for Export Development Bank of Iran (EDBI).
Governors and representatives of Hungarian banks and Central Bank of Iran (CBI), Sina Bank, Shahr Bank and Export Development Bank of Iran (EDBI) met in Budapest to look into ways to launch banking ties between the two countries.
Iran's Economy Minister Ali Tayebnia, who attended the meeting, said that reaching desirable economic turnover is subject to banking relations between the two countries.
"It has been agreed that a memorandum of understanding (MoU) for regulatory cooperation be signed between central banks of the two sides," he continued.
Tayebnia is in the Hungarian capital to take part at the first Iran-Hungary Joint Economic Commission meeting.
The commission aims to develop cooperation between Iran and Hungary in different fields as well as to boost bilateral economic ties.
