TEHRAN, Iran, Jan. 27
The amount of bank guarantees related to Iran's Development and Innovation Fund has exceeded $238 million, said VP of the fund, Siavash Malekifar, Trend reports via ILNA.
Malekifar said the fund plays a major role in helping local Iranian companies move forward and develop.
"According to the fund's plan, knowledge-based companies can secure up to 80 percent of guaranteed facilities," said the official.
He went on to add that the fund contributes to both profits and losses of the knowledge-based companies.
Knowledge-based companies in Iran receive certain support. For example, Head of Exports and Investment Directorate of Export Development Bank of Iran (EDBI) Hossein Hosseinian recently said that the bank provided the companies with funds.
“The bank has allocated $95 million to fund knowledge-based companies,” the official said.