Bank Melli Iran unveils amount of loans issued for coronavirus pandemic

Finance Materials 21 January 2021 12:35 (UTC +04:00)

BAKU, Azerbaijan, Jan. 21

By Elnur Bagishov – Trend:

The Bank Melli Iran has provided loans worth 115 trillion rials (about $2.74 billion) since the beginning of the current Iranian year (March 20, 2020) to reduce the damage caused by the coronavirus pandemic, Trend reports citing the bank’s official website.

According to the report, these loans were provided under 8.35 million contracts to support coronavirus victims.

“Of this amount, 82 trillion rials (about $1.95 billion) was transferred to the accounts of people receiving subsidies in Iran, the report said.

Furthermore, about 22 trillion rials (about $524 million) worth of loans was issued to enterprises and companies affected by the coronavirus pandemic to protect their labor activities, the report said.

According to the report, the Bank Melli Iran has also provided about 11 trillion rials (about $262 million) worth of loans to people living in rented housing under the National Housing Plan.

About 24 percent of loans to be issued in connection with the coronavirus pandemic in Iran belonged to the Bank Melli Iran, the report said.

Iran has a population of about 83 million. The Iranian government provides cash subsidies to about 78 million people. This amount varies between $24-$60.

The apartments in Iran under the National Housing Plan are built on the basis of continuous payments of citizens and are handed over to citizens upon completion.