Central Bank of Iran invests $52 billion in job creation

Business Materials 14 August 2011 17:50 (UTC +04:00)

Azerbaijan, Baku, August 14 /Trend/

The Central Bank of Iran is to invest $52 billion to create 2.5 million new jobs , Fars News Agency quoted the secretary general of employers' association Mohammad Atarodian as saying.

"The Central Bank of Iran has promised to assign $52 billion to create jobs in current solar year (started on March 20,2011)," he said.

It's expected that the Central Bank of Iran will give sufficient loans to industries and productive units.

Iranian President Mahmoud Ahmadinejad promised to create 2.5 million jobs and to solve the unemployment problems by the end of current solar year.

Previously Minister of Labor and Social Affairs Abdolreza Sheikholeslami said total of $40 billion invested from bank sources to create jobs and boost government plan to create early profitable jobs

The plan "Creating early profitable jobs" was launched by the government from 2005 to 2009.

Iran includes those working even an hour a week into the list of employed people. According to the international standards, employed person should have minimum 48 work hours a week.