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China to spend $2 billion on hospitals in Iran

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Staff Writer | December 20, 2017
China signed a contract with Iran to extend $2 billion in finance for the construction of five hospitals in Iran.
China Iran
Healthcare   Exim Bank and China Development Bank
The finance will be provided by the Exim Bank of China and China Development Bank.

The agreement was signed in the presence of Iran’s Health Minister Hassan Qazizadeh Hashemi, IRNA reported.

The projects include two 1,000-bed hospitals for Shahid Beheshti University of Tehran, a 1,000-bed hospital for Iran’s University of Medical Sciences, a 330-bed hospital and a 540-bed hospital for Iran’s University of Medical Sciences.

These are to be built under the supervision of Iran’s Health Ministry within four years.

Exim Bank of China has financed dozens of projects in Iran.

Sun Ping, vice president of the bank, had said in July that $8.5 billion worth of loans have so far been granted by the bank to fund Iranian projects. He made the statement on the sidelines of a ceremony to sign the finance contract for the electrification of Tehran-Mashhad railroad with a $1.5 billion loan in Tehran.

China’s CITIC Trust also signed an agreement with five Iranian banks in October to extend a credit line worth $10 billion for supporting projects in Iran.