TEHRAN, Iran, Oct.22
Trend:
Iran's Ministry of Industries, Mine, and Trade has so far allocated $935 million in loans to 1,535 production units across the country as part of a product development project in the first six months of the current Iranian year (started March 22, 2020).
The ministry has offered $1.5 billion in loans for production units and job creation from March 2019 until September 21 that covered 1,114 industrial and production units. The country's economic resistance projects provided the budget, Trend reports citing IRNA.
The budget plan for the current Iranian year (started March 20, 2020) has estimated that the government should create 11,000 jobs and should provide assistance in this regard. The interest rate of loans is 14 percent while it is 12 percent in less developed regions.
Following the Coronavirus spread many businesses and production units faced heavy losses and downsized their staff. The government has promised to offer loans to these units.