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The Economic Cooperation Organisation (ECO) Trade and Development Bank has signed a loan agreement with Bank Mellat Iran on 5 March 2009 for the purpose of facilitating import and export financing needs of local corporate companies.
The “Short Term Trade Finance Facility” has been structured and approved by the Board of Directors at the 14th Board Meeting, held on 25 September 2008 to provide the necessary support to the local companies of the ECO Bank member countries.
Bank Mellat Iran is the third financial institution which signed the Short Term Trade Finance Agreement with the ECO Trade and Development Bank, following Habib Bank, Pakistan and Vakif Bank, Turkey.
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