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Iran to provide loans to citizens of small apartments as part of COVID-19 help

Business Materials 9 July 2020 16:31
Iran to provide loans to citizens of small apartments as part of COVID-19 help

TEHRAN, Iran, July 9

Trend:

The Minister of Roads and Urban Development of Iran Mohammad Eslami said that there is a proposal to provide help for those residents who live in small apartments, Trend reports via ILNA.

The proposal was made as part of measures aimed at helping the population cope with the spread of the coronavirus disease.

"The National Committee on Combating Coronavirus and the Central Bank of Iran are determined to take the necessary measures to spend part of the $17.8 billion of funds allocated to fight the coronavirus, to support the people," Eslami said.

Explaining the preconditions determined for who are subject of the tenant support package, he said that the maximum size of an apartment for Tehran tenants should be 75 square meters and for other cities of the country - 90 square meters.

"A formal lease agreement between a landlord and a tenant is another important precondition for applicants," he said.

"Once finalized, the loan will be deposited to the landlords through the banking network," he said.

Iran continues to apply strict measures to contain the further spread. Reportedly, the disease was brought to Iran by a businessman from Iran's Qom city, who went on a business trip to China, despite official warnings. The man died later from the disease.

The Islamic Republic of Iran only announced its first infections and deaths from the coronavirus on Feb. 19.

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