Nearly $544m paid to SMEs, semi-finished projects in 4 months

September 18, 2020 - 12:9

TEHRAN – Iran’s Ministry of Industry, Mining and Trade’s data show that 22.878 trillion rials (about $544.7 million) has been paid to small and medium-sized enterprises (SMEs) and semi-finished industrial projects with an over 60 percent physical progress during the first four months of the current Iranian calendar year (March 19-July 21).

The mentioned payments were made 963 semi-finished projects and production units, IRNA reported.

As reported, over 2,974 loan requests were registered in the mentioned four months, of which 1,630 were accepted and introduced to various banks to be paid the facilities.

The highest payment was made to SMEs and projects based in Semnan Province with 153 facilities amounted to 4.639 trillion rials (over $110 million) and the lowest was related to the south of Kerman, Kermanshah, Sistan-Balouchestan, and Kohgiluyeh-Boyerahmad Provinces with zero loans.

Following a major program for developing the country’s production under the frameworks of the resilient economy, the government has defined several projects that are going to create 1,032,962 job opportunities.

In this regard, the Central Bank of Iran (CBI) has defined supporting production as its major plan in the previous Iranian calendar year, which was named the Year of Pickup in Production.

CBI Governor Abdolnaser Hemmati has constantly stressed that supporting production units to flourish production is the priority of the country’s banking system.

Industry Ministry had previously announced that over 335.77 trillion rials (nearly $7.99 billion) was paid to SMEs and semi-finished industrial projects during the previous Iranian calendar year (ended on March 19).

The mentioned payments were made in the form of 20,930 bank loans to various projects and production units, IRNA reported.

The highest payment was made to SMEs and projects based in Tehran Province with 1,434 facilities amounted to 67.44 trillion rials (about $1.6 billion) and the lowest was related to the south of Kerman Province with only three loans amounting to 14.5 billion rials (about $345,230).

EF/MA

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