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Iran Rural Department polishes development plan with MPs

Business Materials 22 November 2017 15:00 (UTC +04:00)
On Tuesday, the Rural Development Department of Iran’s Presidential Office held a meeting with some 20 members of Parliament to streamline a rural development plan which has been under consideration for some time.
Iran Rural Department polishes development plan with MPs

Tehran, Iran, November 21

By Mehdi Sepahvand –- Trend:

On Tuesday, the Rural Development Department of Iran’s Presidential Office held a meeting with some 20 members of Parliament to streamline a rural development plan which has been under consideration for some time.

During the meeting, which was headed by Vice President Abolfazl Razavi, the officials scrutinized the executive minutiae of the plan, Trend correspondent reported from the meeting.

The plan considers allocation of self-employment loans to go to eligible rural residents with the aim to boost rural employment and shore up Iran’s economy against foreign sanctions.

The total amount of loan given to the plan is $1.5 billion, authorized by Supreme Leader Ayatollah Ali Khamenei last year, out of the National Development Fund and will be given as low-interest loan to those starting a business in rural areas with employment for one or more rural residents.

An official with the department told Trend that all due care is being taken so that the implementation of the plan satisfies all involved authorities, including representatives in the Parliament, and that misuse chances are minimized.

The meeting parties decided that the loans will range from 1 billion to 20 billion rials (1 USD = 35,244.23 IRR in the official market).

According to Razavi, the loans will preferably serve finance rather durable businesses, such as in areas of agriculture, handicraft, garment, mines, and technology.

In a meeting in one week, the Rural Development Department and the lawmakers will wrap up the executive instructions of the plan to be communicated to provincial governments for implementation.

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