TEHRAN, Iran, September 12. Iran’s Ministry of Agriculture has requested 24 trillion rials (about $5.7 billion) for the implementation of contract farming, said the Director General of Economic Affairs in the Ministry of Agriculture Mohammad Khaledi, Trend reports citing IRNA.
The ministry has officially requested 20 trillion rials (about $4 billion) advances from the Central Bank of Iran (CBI) and 4 trillion rials (about $952 million) from the National Development Fund for the development of contract farming, he said.
The Central Bank of Iran and the Ministry of Agriculture have signed a cooperation agreement to support producers in the purchase of inputs, basic materials, and equipment to develop contract farming.
"Applicants should register online to participate in the contract farming plan. The Ministry of Agriculture will approve the qualified companies and pursue the financial advances from the CBI," Khaledi noted.
Contract farming aims to produce strategic products including wheat, and oil seeds. Private sector and state-owned companies will be part of the project.