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The Economic Cooperation Organisation (ECO) Trade and Development Bank signed a trade finance loan agreement with Esfahan Steel Company (ESCO) on November 14, 2011 for the amount of EUR 21.7 million in order to provide trade finance facility.
According to the signed agreement, the ECO Bank will finance ESCO’s imports\procurements from one of the ECO member countries. ESCO is the first and largest manufacturer of constructional steel products in the Islamic Republic of Iran. The imports\procurements would be used for manufacturing of constructional steels as the demand for such products are increasing in the country.
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