Relief foundation allots $1.5b to create jobs for the underprivileged

November 20, 2018 - 22:25

TEHRAN – Imam Khomeini Relief Foundation has earmarked a total of $1.5 billion from the National Development Fund for generating jobs for the financially struggling individuals, the foundation’s head has announced.

Considering the new economic conditions and the need for employment, new programs and financial resources are being provided to create more job opportunities, Mehr quoted Parviz Fattah as saying on Monday.
He further expressed appreciation to the banks for their good cooperation with the foundation in granting the loans, and stated that the process of granting loans has already started.
“Some $1.5 billion in the form of 100,000 loans amounting to 250 million rials (nearly $6,000) has been allotted to facilitate job generation for the individuals under the Foundation’s coverage,” he explained.
The loans will be granted to the underprivileged who are covered by the Foundation and live in rural areas or cities with less than 20,000 residents, he added.
He further expressed hope that all 100,000 loans to be provided to the unemployed by the end of the current Iranian calendar year (March 20, 2019), adding but if there are a few loans remained, they will be granted next year.
Another budget of 14 trillion rials (about $400 million) has been already provided in this manner, which is granted through loans amounting to 200 million rials (nearly $5,000), he concluded.

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