Iran to allocate $1.5B for rural employment
Tehran, Iran, Feb.4
Iran's National Development Fund is to allocate $1.5 billion to improve the employment in rural areas including villages and nomadic tribes.
"The plan to develop sustainable employment in villages is to be implemented by allocation of $1.5 billion from the National Development Fund while the Agriculture Bank would be one of the operators of the plan," said the Managing Director of Agriculture Bank Rouhollah Khodarahmi, Trend reports citing ILNA.
"It is expected that the financial aid would create 68,308 jobs, while the Agriculture Bank has already offered some $904 million for creating over 26,000 job spots," he added.
"The assignment of $1.5 billion from the National Development Fund is to be exchanged to rials and will be provided in two batches to the Agriculture Bank," he said.
The official also indicated that the number of Agriculture Bank branches would be reduced, due to launch of electronic banking systems, while currently 70 branches have been merged or shut down.
"The Agriculture Bank ranks 16 among 500 top corporations (in Iran), while in term of property ownership it ranks 4th," Khodarahmi added.
"So far the bank has assigned $428 million to 530,000 farmers that have faced damages in their work. According to the Sixth Development Plan (2016-2021), by February 19, the bank would clear out the issue with 26,136 debtors that owe some $47.6 million," he said.