China Export & Credit Insurance Corporation (commonly known as Sinosure) will provide export insurance for Chinese construction and investments in Iran.
According to the Central Bank of Iran, Sinosure has signed an Memorandum of Understanding to insure state-owned and private Chinese companies that intend to invest in Iranian projects, enabling them to use new lines of credit.
Mr Zha Weimin, Sinosure's Vice President, said that he hoped the MoU will open a new chapter in economic relations between China and Iran and benefit both sides.
Sinosure covers political, commercial and credit risks. It offers short, medium and long term export credit insurance, investment insurance, bond guarantees, among other services.
Previously, Sinosure had provided credit lines and export insurance for mining and refinery projects in Iran.