BAKU, Azerbaijan, Apr. 27
By Elnur Baghishov – Trend:
The Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO), Ministry of Industry, Mine and Trade of Iran, and Tejarat Bank of Iran signed a contract to support important projects in the mining industry today on Apr. 27, Trend reports referring to the IMIDRO.
The contract was signed by the head of the IMIDRO, Vajihollah Jafari, Deputy Minister of Industry, Mine and Trade Saeed Zarandi, and Executive Director of the Tejarat Bank, Reza Dovlatabadi.
The value of the contract is 150 trillion rials (about $3.57 billion).
During the signing ceremony, the head of IMIDRO said that the funds will be allocated to the important projects in three stages over the next two years.
Jafari added that the signing of this contract is an important step to support production and will help increase employment.
Jafari also noted that the IMIDRO has signed a contract on development worth 120 trillion rials (about $2.85 billion) with the Bank of Industry and Mine last İranian year (from March 20, 2020, through March 20, 2021).
“So far, 10 trillion rials (about $238 million) has been provided under the contract signed last İranian year. Also, conditions have been created to provide loans worth 40 trillion rials (about $ 952 million),” he said.
The official emphasized that the goal is to provide 500 trillion rials (about $11.9 billion) on financial security to important projects and enterprises in Iran.