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Iran doubles self-employment loans

Business Materials 11 December 2012 15:42 (UTC +04:00)

Azerbaijan, Baku, Dec. 11 / Trend G.Mehdi/

The value of each self-employment loan, which is granted to individuals in Iran, has been doubled to 100 million rials ($8,200), ISNA quoted Central Bank Governor Mahmoud Bahmani as saying.

He expressed the hope that the sum would be increased to 150 million rials in the near future.

Creating each job in industrial projects requires around 1 billion rials, he said.

In October, ISNA quoted deputy cooperatives, labor, and social welfare minister, Mohammad-Hossein Forouzanmehr, as saying that the Central Bank has earmarked 32.2 trillion rials (some $2.6 billion) for promoting household jobs and self-employment plans.

Household jobs are planned to account for 20.4 percent of the total employment in the current Iranian calendar year, which ends on March 20, 2013, he added.

He said Iran aims to create 1.1 million in the current calendar year, which ends on March 20, 2013.

Cooperatives, Labor, and Social Welfare Minister Abdolreza Sheikholeslami has said that the unemployment rate is planned to be cut to seven percent by the end of the fifth socio-economic development plan (March 2016.)

To this end, 5.5 million new jobs should be created, he noted.

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