BAKU, Azerbaijan, May 3
By Elnur Baghishov – Trend:
The Central Bank of Iran (CBI) will continue to support small and medium-sized enterprises in the current Iranian year (from March 21, 2021, through March 20, 2022), Director General of the Central Bank of Iran (CBI) Abdolnasser Hemmati wrote on his Instagram page, Trend reports.
According to Hemmati, at present, small and medium enterprises are considered one of the foundations of sustainable development in all countries and increase and develop production in terms of science and knowledge. Value-added, innovation, employment, and so on are the advantages of these enterprises.
The director-general added that the Central Bank of Iran has allocated 1 quadrillion rials (about $23.8 billion) to support these enterprises in the current Iranian year. These funds will be provided by banks to increase production and employment and as working capital.
“The CBI issued loans worth about 850 trillion rials (about $20.2 billion) to more than 27,000 small and medium enterprises over last Iranian year (from March 20, 2020, through March 20, 2021). This is an increase of 57 percent compared to the preceding Iranian year (from March 21, 2019, through March 19, 2020),” he said.