Over $1.225b of loans paid to production units in 7 months

November 18, 2020 - 14:6

TEHRAN – Iran’s Ministry of Industry, Mining and Trade’s data show that 51.48 trillion rials (over $1.225 billion) has been paid to production units as part of a program for supporting domestic production during the first seven months of the current Iranian calendar year (March 20-October 21).

The mentioned payments were made to 1,907 production units.

As reported, under the framework of this program dubbed “facilities for production and employment”, during the eight-month period started from February 20, over 69.703 trillion rials of facilities (about $1.659 billion) have been paid to 1,232 production units.

Based on the mentioned program 201.299 trillion rials of facilities (about $4.79 billion) are going to be paid to production units to support domestic production and maintain or create job opportunities.

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.

EF/MA

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