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Iran issues loans to back small-time entrepreneurs working from home

Finance Materials 10 August 2021 14:43 (UTC +04:00)

BAKU, Azerbaijan, Aug. 10

By Elnur Baghishov – Trend:

Iran issued about 1.07 trillion rials (about $25.6 million) in loans to support the fight against COVID-19 for those small-time entrepreneurs working from home, during the last Iranian year (from March 20, 2020 through March 20, 2021), Trend reports via the Ministry of Cooperatives, Labour, and Social Welfare of Iran,

According to the statistics, these loans were issued to 22,245 people. About 3 percent of employment in Iran is accounted for such entrepreneurs.

“In order to implement the law on the development of sustainable employment among the population in Iran, about 10 percent of the allocated loans in this regard are intended for small business. For this purpose, about 26,204 people were provided loans worth 6.74 billion rials (about $160,000) in the last Iranian year,” the statistics said.

In 9 years, a total of 3 million people in Iran applied for a license to work from home (from March 21, 2011 through March 19, 2020). About 1.65 million of them have received licenses. Also, 772,000 of them received loans and created jobs for 852,000 people.

The largest number of licenses was issued to women. According to the age difference, 52 percent of the licenses are for people aged 20-40, and 43 percent are for people aged 40-60, the statistics said.

The mentioned licenses are being issued in Iran online (since last year). The validity of these licenses is from 2 to 5 years.

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