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Increase in Loans for Rebuilding Rural Homes

Increase in Loans for Rebuilding Rural Homes Increase in Loans for Rebuilding Rural Homes

Over 370 trillion rials ($1.68 billion) in loans at 5% have been granted for repair and reconstruction of homes in rural areas since the March 2006, Azizollah Mehdian, an official with the Islamic Revolution Housing Foundation said.
“More than 1.75 million homes have been rebuilt so far with the help of such loans.”
Rural renovation and reconstruction loans amounted to  50 million rials ($227)  per household in the first year the lending program was launched. In the current year March 2020-21, the government has agreed to increase the amount to 500 million rials ($2,272) from last year’s 400 million rials ($1,818). 
A total of 200,000 rural renovation and reconstruction loans will be paid this year, Hibna quoted him as saying.
Noting that 40% of residential properties in rural areas are now disaster-proof compared to 7% before the year ending March 2006, Mehdian said: “There are 5.3 million homes in the rural areas of which 2.1 million have been reconstructed.”

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