Tehran, Iran, March. 6
By Kamyar Eghbalnejad – Trend:
The investment guarantee fund for small-sized businesses in Iran has agreed to participate in a government-backed scheme for job creation in rural areas of the country.
Under a trilateral agreement between the fund, Post Bank of Iran as well as Iran Small Industries and Industrial Parks Organization (ISIPO), the sides will cooperate in supporting job creation in the rural areas, Trend correspondent reported.
The agreement seeks to finance small businesses run by villagers and nomads as Iran is expected to allocate more than 14 trillion tomans (about $313 million) in the low-interest loans to the rural plans.
Those villagers and nomads who live in the country’s frontier areas will be eligible to receive loans with an interest rate of four percent. The remaining will receive loans at the interest rates of six and eight percent.