Iranian government pays loan to damaged businesses

Business Materials 30 March 2020 09:31 (UTC +04:00)
Iranian government pays loan to damaged businesses

TEHRAN, Iran, March 30


Iranian government will implement measures to compensate losses due to coronavirus spread to productive businesses by using its unblocked properties, said Iranian MP.

Seyed Javad Hosseini Kia has discussed the government support to those businesses that were hurt by closure during coronavirus spread in an interview with Trend.

"The recent MPs' video conference discussed the government actions in terms of compensating financial damages to businesses amid coronavirus spread while the government is to start specific measures," the MP said.

"There are many workers in the country who are paid daily. In my view, the government should think of the low-income class and of the producers that have faced closure of their business due to the disease, since it would affect many households and causes further collapse. On the other hand, there could not be a hope for leap in production," he added.

"It is expected that the government would provide around $17 billion loan with 12 percent interest rate to business owners that are faced with losses. Meanwhile, some need support and loan without interest rate to function," he said.

"The government has announced recently that it would implement restrictive measures so people would remain at their homes and reduce transportation, so that in next two weeks we can break the cycle of the disease," he added.

"Those who can work online from home and those who have to work and move in the city should follow special measures; we hope people's collaboration would lead to positive outcome," he said.

"In terms of releasing Iran's blocked properties and funds abroad, part of country's blocked finances in the US is to be released. About $5.9 billion of this capital will be used for purchase of medical and health care supplies, while $17 billion will be used to compensate the losses in businesses and social welfare," he added.