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Iran to set up venture capital funds

Business Materials 7 September 2020 09:58
Iran to set up venture capital funds

TEHRAN, Iran, Sept. 7

Trend:

Iran`s Minister of Cooperatives, Labor and Social Welfare Mohammad Shariatmadari has announced that venture and capital funds will be established in the country with participation of public and private sector, Trend reports via his Instagram page.

“In order to support youth employment, the government in cooperation with the private sector is determined to create centers for innovation and development of cooperatives and establish venture capital funds,” Shariatmadari said in a statement.

He went on to say that the credit line will be created at a preferential rate for young cooperatives.

“Guaranteeing the Original Investment Amount" for young cooperatives is one of the government`s new projects,” he added.

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