Over $452m of facilities paid to export companies in about 5 months

August 23, 2021 - 16:25

TEHRAN – The Iranian banking system has paid about 19 trillion rials (about $452.3 million) of facilities to export-oriented production units since the beginning of the current Iranian calendar year (March 21) up to July 31, Industry, Mining and Trade Ministry’s data showed.

As IRNA reported, the mentioned facilities have been paid under the framework of the government’s non-oil export support package which is allocated to finance and support export-oriented production units.

To this due, the facilities are allocated to direct resources to achieve export goals and also to provide working capital to the mentioned units.

According to the Industry, Mining and Trade Ministry, production units that are producing items more needed in the target countries are the priority for receiving the mentioned facilities.

Applicants for these facilities can register and submit their applications on a website created for this purpose.

Promoting exports in line with the support of domestic production has been one of the main strategies of the Ministry of Industry over the past two years.

In this regard, the trade policies of the ministry for the current Iranian calendar year which is named the year of “Production: Support and Elimination of Obstacles”, have been mainly focused on the development of production, employment, and developing non-oil exports and eventually entering new markets.

Iranian banks paid 5.951 trillion rials (about $141.6 million) of facilities to export-oriented companies during the first two months of the current Iranian calendar year (March 21-May 21).

According to the Central Bank of Iran’s (CBI) latest data, the banking system also paid 4.976 quadrillion rials (over $118.4 billion) of facilities to domestic economic sectors in the first three months of the current Iranian calendar year (March 21-June 21), registering a 71.3-percent rise from the same period in the previous year.

EF/MA

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