Iran continues to provide loans to transportation companies amid COVID-19

Business Materials 26 April 2021 10:46 (UTC +04:00)
Iran continues to provide loans to transportation companies amid COVID-19

TEHRAN, Iran, Apr.26


The Iranian government has paid about $760 million supportive advances to transportation companies and drivers that damaged by coronavirus said the Director-General of transportation in the Ministry of Road and Urban Development.

About 70 percent of applicants requested for advances were in the road, aviation, railway, and sea transportation, which have been paid since the start of the current Iranian year (started March 21, 2021), said Mohsen Sadeghi, Trend reports citing IRNA.

"The government has paid advances to public transportation sector especially to aviation and railway transportation that were heavily damaged by Coronavirus and then to public transportation in suburban areas," he added.

A total of 203,000 cases was filed by transportation companies to obtain loans that so far 155,000 cases have reached the payment stage and the rest are in the process of being paid.

So far in the aviation sector, 29 cases were filed to request $600 million advances of which 80 percent of requests have been paid that include 14 companies that received $470 million advances.

In the railway sector, 59 companies requested a loan valued at $220 million and so far 23 companies have been paid $54 million advances.

"There is an urgent need to provide loans to transportation companies especially railway sector and we request more cooperation from banks to facilitate the payment," Sadeghi noted.