China to provide Iran $20b in finance

According to Mehr News Agency, Asadollah Askaroladi said, "In recent months, Iran-China political and business interactions have led to a number of promising outcomes in the Iranian economy and $20 billion of Chinese finance will be opened in Iran."

He underlined that the new finance will become available to Iran over the coming years while Iran has always been able to receive twice the amount of its yuan deposits in China as finance.

The official further said that a Chinese delegation visited Iran last week and a 15-member Iranian trade group will travel to China on April 3.

"The addition of Chinese yuan to the basket of international currencies has had a positive impact on Iran," noted Askaroladi concluding, "Iran possesses a large amount of yuan in China and better finance conditions will arise by conducting transactions in the Chinese currency."