Iran allocates loans to renovate aging commercial fleet
Tehran, Iran, June 7
By Kamyar Eghbalnejad - Trend:
In a bid to renovate the country’s aging commercial fleet, First Vice President Es'haq Jahangiri has instructed Iranian banks to give new loans worth 60,000 billion rials(each USD makes 42,000 rials).
In an official letter on June 7, Jahangiri granted permission to Iran’s banking system to give new loans to applicants introduced by the country’s auto manufacturers, YJC news agency reported.
The loans will be granted to those who would buy new trucks and vehicles to renew Iran’s commercial fleet.
According to the letter, the Iranian banks are required to give loans worth 60,000 billion rials, 70,000 billion rials, and 80,000 billion rials to the applicants in 2018, 2019, and 2020, respectively.
In fact, the banks will pay 30 percent of the trucks' total value and the applicants are obliged to pay them back within five years.
The offices of the Leader, president, minister of mine and industry as well as the parliament also received a copy of the letter.