BAKU, Azerbaijan, June 24
By Elnur Baghishov – Trend:
More than 14.5 trillion rials (about $345 million) in loans were issued to manufacturing enterprises in the Semnan Province (northern Iran) within the envisaged amount of loans that was planned to be issued in the last Iranian year (March 21, 2019 to March 20, 2020), Chairman for Industry, Mine and Trade Organization of Semnan Province Ali Teshnedel said, Trend reports citing the organization.
According to Teshnedel, these loans were issued to 456 manufacturing enterprises in the industrial and agricultural sectors.
Teshnedel added that more than 11 trillion rials (about $261 million) in loans were issued to increase production, and 3.5 trillion rials (about $83.3 million) in loans were provided under the employment program.
The chairman said that so far, the organization has applied to banks to be provided loans worth more than 26 trillion rials (about $619 million) to 725 manufacturing enterprises and at present, some 332 issuance of loans are considering at banks.
"Last year, the names of 94 industrial and agricultural enterprises were announced to banks for issuance of loans worth 6.68 trillion rials (about $ 159 million) from the planned loan reserves," he said.
In the process of granting loans to manufacturing enterprises in Iran, enterprises apply to the relevant body (Industry, Mine and Trade Organization).
After examining the issues related to the issuance of loans in this institution, the enterprises are announced to the relevant banks. During the year, banks provide loans to enterprises from the loan reserve provided by the Iranian government for each province.