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- September 17th, 2017
China signed an agreement to grant Iran a credit line of 10 billion dollars for infrastructure projects.
As agreed, Citic Group will provide loans to Iranian banks to finance projects related to energy, environment, transport and water resources management.
For his part, President of the Central Bank of Iran, Valiolá Seif,said that Iranian banks will start receiving loans from Citic Group early next October.
He also noted that 10,000 million, with 15,000 million additional dollars invested China in early May in other projects in Iran, stresses that both countries have "a strong will" to continue their cooperation.
Citic Group , headquartered in Beijing (Beijing), is a stateowned investment company established in 1979.
Currently it has 44 branches in China, Hong Kong, United States, Canada, Australia and New Zealand .
It is the largest economic agreement between the two countries after the nuclear agreement reached in 2015 by Tehran and the Group 5 + 1 ( the US, the UK, France, Russia and China, plus Germany).
Faced with attempts by the administration of US President, Donald Trump, to push through new sanctions on Iran, China have repeatedly shown their support for the Persian country.
FDD / ctl / SNZ / msf
Goodbye sanctions: Europe turns to Iran and embraces the Persian gas
In addition to the French Total, the agreement will also take part China National Petroleum Corp. This is the first investment in the country for an international energy company since the lifting of sanctions on Iran in 2016.
Both companies had already arrived in November 2016 an agreement in principle with Iran 's National Iranian Oil to proceed with the next phase of the project in the natural gas reservoir. South Pars The agreement was then valued at 4,800 million dollars. 
According to sources Total quoted by Bloomberg , the agreement will be signed on July 3 will be very attractive and will last 20 years.
As contemplated in November 2016, it is expected to Total Control 50.1% of the project while CNPC 30% and the Iranian Petropars 19.9%.
Total, based in Paris, had already participated in the project of South Pars until the imposition of sanctions on Iran by the United States forced him to leave. 
The company spokesman said that the project complies strictly with French and international laws.
Iran has the largest gas reserves in the world and is the third largest oil producer of the Organization of Petroleum Exporting Countries (OPEC).
The Persian country is striving to attract companies like Total, the British-Dutch Royal Dutch Shell and Russia 's Lukoil to invest in the country 's hydrocarbon sector.
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