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Iran's Maskan Bank allocating loans as part of National Housing Action Plan

Finance Materials 3 April 2023 13:30 (UTC +04:00)
Iran's Maskan Bank allocating loans as part of National Housing Action Plan
Elnur Baghishov
Elnur Baghishov
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BAKU, Azerbaijan, April 3. Iran's Maskan Bank allocated a loan of 810 trillion rials (about $19.3 billion) for housing construction as a part of the National Housing Action Plan, during the current Iranian year (March 21, 2023 through March 19, 2024), head of the Maskan Bank Ali Asgari said, Trend reports citing Iranian Ministry of Roads and Urban Development.

According to Asgari, the mentioned amount of loans was allocated for the construction of 200,000 apartments across the country.

“The Maskan Bank provided a loan worth approximately 630 trillion rials (about $15 billion) within the National Housing Action Plan in Iran for the last Iranian year (March 21, 2022 through March 20, 2023),” the official said.

Iran's National Housing Action Plan has been in realization for a number of years already. The plain envisages to improve the housing conditions of the population. Potential loan applicants must be married, have no apartment under their name since 2005, be registered in their city, and have a document confirming that they have not used any financial support from the government to buy an apartment.

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