BAKU, Azerbaijan, December 21. Iran has made a decision on the providing loans worth 26.3 trillion rials (about $627 million) in the East Azerbaijan Province in the north-west the country, for the purpose of self-employment and entrepreneurship for the first time, an official of East Azerbaijan Province Labour, Social Welfare and Cooperation Department Younes Taheri told ISNA, Trend reports.
Taheri said that 1.5 billion rials (about $35,700) worth of loans will be provided to each person for self-employment, and 40 billion rials (about $952,000) for entrepreneurship.
The official added that loans will be issued at 4 percent in order to support employment and entrepreneurship.
According to him, the decision on the issuance of loans has already been announced to the governors of all counties of the East Azerbaijan Province and other relevant institutions.
Taheri also pointed out that the loans will be provided by 18 banks.
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