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Iran's West Azerbaijan official asks for allocation of more bank facilities to production units

Finance Materials 10 December 2019 12:13 (UTC +04:00)
Iran's West Azerbaijan official asks for allocation of more bank facilities to production units

TEHRAN, Iran, Dec.10

Trend:

Chairman of the West Azerbaijan province Industry, Mine and Trade Organization Gholamreza Babaei expressed hope for more efforts by local banks to allocate the approved credits to the production sector, Trend reports citing IRNA.

"Several new large-scale industrial projects will soon be launched, and this will open new jobs across the province," Babaei added.

Governor of West Azerbaijan Province Mohammad Mehdi Shahriari also emphasized that in the next 2 weeks, necessary measures should be done for paying out the provincial industry's credits, through a special committee.

"Some banks are still in the process of reviewing the facilities and the amount of credits to be given," Shahriari said. "This process needs to be sped up".

The statistics of the relevant managers of the West Azerbaijan Province published by IRNA, show that only $2.5 million of the planned credits were paid to the industrial sector last year, while more than $190 million of credit were approved for this sector.

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