$120m Aid Package to Cushion Transport Firm’s Covid Crash

The Iranian government has paid loans worth 28.9 trillion rials ($120 million) to transportation companies hurt by the coronavirus as of Jan. 19, an official with the Ministry of Roads and Urban Development said on Tuesday.
Mohsen Sadeqi added that the money accounts for 60.2% out of 48 trillion rials ($200 million) worth of financial support allocated to the transportation sector, IRNA reported.
According to the official, the lending covers air, rail and road transportation sectors. 
“Out of the total 211,000 applications, close to 120,000 were filed by bus, minibus and taxi drivers, each of whom received loans worth 160 million rials ($667) with a 12% interest rate and a two-year installment repayment period,” he added.
In another move to help the virus-hit transportation sector stay afloat, the Ministry of Cooperatives, Labor and Social Welfare paid loans worth 60 million rials ($250) each to urban bus, cab and school service drivers. 
Morteza Zameni, the head of Iran Taxi Union, said that with the help of Interior Ministry, 648,000 drivers have been listed, out of which around 198,000 have applied for the loan.