France's public investment bank is exploring a strengthening of ties with Export Development Bank of Iran.

Bpifrance, the public investment bank of France, and Export Development Bank of Iran (EDBI), the export credit agency of Iran’s government, are considering extending their relationship, the Financial Tribune reported yesterday.

The news follows a meeting between officials from both organisations in Tehran on Sunday. EDBI is particularly interested in funding small and medium-sized enterprises and knowledge-based startups.

EDBI also hopes to cooperate with major European – and specifically France-based – financial services firms.

Iran’s development bank is on a mission to re-establish ties with fellow actors in countries across the world after international sanctions were lifted in January this year. So far, EDBI has managed to connect with 90 banks across 65 countries.