VOL. XLVII

No 14

05-April-2004

IRAN

Japan Agrees $1.2Bn Loan To Secure Iranian Oil Supplies

The state-owned Japan Bank for International Cooperation (JBIC) has agreed a $1.2bn loan deal with the National Iranian Oil Company (NIOC), which will secure supplies of Iranian crude oil over nine years beginning last month. JBIC has provided 85% of the loan, with the remainder coming from four Japanese commercial banks Mitsubishi Tokyo Financial Group, Mizuho Financial Group, Sumitomo Mitsui Financial...