Nearly $770m of loans paid to industrial units in 6 months

October 28, 2020 - 13:38

TEHRAN- Some 32.312 trillion rials (about $769.3 million) of loans has been paid to industrial units throughout the country during the first six months of the current Iranian calendar year (March 20-September 21), IRNA reported.

According to the Industry, Mining, and Trade Ministry’s data, under the framework of a production and employment program, 2,010 units applied for the mentioned facilities in the mentioned six months, of which 1,087 units received facilities.

The mentioned program has been defined by the government to support small and medium-sized entrepreneurs (SMEs) and also to help completion of semi-finished projects with over 60 percent of physical progress.

The government is obliged to create 11,000 job opportunities in the current Iranian calendar year (began on March 20) by supporting industrial units and completing semi-finished projects.

Qom province with 46 loans, Razavi Khorasan Province with 53 loans, and Tehran with 32 loans were the top three provinces in terms of receiving the said facilities in the first six months of this year, respectively.

Deputy Industry, Mining, and Trade Minister Saeed Zarandi had previously announced that these facilities will be provided to pave the way for national production and support economic enterprises within the framework of this year’s slogan which is “surge in production”.

“These facilities will be paid with the aim of maintaining and increasing production, and to create employment by modernization and reconstruction of enterprises and production units, and completion of semi-finished projects with a physical progress of more than 60 percent,” he said.

EF/MA

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