Iran provides loans to back inactive production units

Finance Materials 8 January 2021 09:27 (UTC +04:00)
Iran provides loans to back inactive production units

BAKU, Azerbaijan, Jan.8


Iran's government has approved to pay $12 billion worth of advances to inactive production units and factories, to encourage the 'production leap' in the current economic situation, said Iran Minister of Industry, Mine and Trade Alireza Razm Hosseini, Trend reports via IRNA.

"The approval has been announced for all provinces and inactive units could profit from this," said Hosseini.

Hosseini went on to say that the head of the parliament's economic commission is seriously following up on the issue of advance payment to the Golnaz vegetable oil factory in Kerman Province, adding that the material supply there would be resolved.

"Following this announcement, the basic material would be supplied to the factory by the end of the current Iranian year (started March 20,2020)," he said.

Hosseini said the Central Bank of Iran would provide foreign currency to the production units to import basic material.