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BIM to Lend $30m to Struggling Parts Makers

BIM to Lend $30m to Struggling Parts MakersBIM to Lend $30m to Struggling Parts Makers

State-owned Bank of Industry and Mine will offer 4 trillion rials ($30.7 million) in loans to 150 car parts makers working with local car company SAIPA.
According to a report published on the bank's website BIM.ir, as per an agreement signed on Feb. 17 between BIM chief Hossein Mehri and SAIPA boss Javad Soleimani, the latter will send a list of eligible parts makers to the bank. The list should be ratified by the Industries Ministry.
Mehri said, “The loan will hopefully help part makers increase production.”

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