WORLD_ SYRIA_ Syria accepts $1 billion in credit from Iran

CNN

Syria accepts $1 billion in credit from Iran

By Jason Hanna, CNN
Updated 1607 GMT (2307 HKT) July 8, 2015


(CNN)_  The President of war-torn Syria has accepted a billion-dollar helping hand from his supporters in Iran.

Syrian President Bashar al-Assad signed a law ratifying a $1 billion credit line from Iran, Syrian state-run news agency SANA reported Wednesday.

The deal, which will help Syria buy goods and fund projects, was signed on May 19 and approved by the Syrian parliament. The agreement was between two state-owned banks, the Syrian Commercial Bank and Export Development Bank of Iran, SANA reported.

The Syrian regime in Damascus, supported by the Shiite leadership in Iran, has so far withstood a 4-year-long civil war that has torn Syria apart. But the government has lost control of large areas of the country to the Sunni extremist group ISIS.

CNN's Mohammed Tawfeeq contributed to this report.

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