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Iran's CB Expands List of Businesses Eligible for Coronavirus Loans

Iran's CB Expands List of Businesses Eligible for Coronavirus LoansIran's CB Expands List of Businesses Eligible for Coronavirus Loans

The Central Bank of Iran has expanded the list of businesses directly hurt by the outbreak of coronavirus, and therefore eligible to receive government-backed loans. 
It has added privately-held kindergartens that work under the supervision of State Welfare Organization of Iran and companies offering exhibition services, including exhibition organizers, to the list. 
CBI has also agreed to offer financial support and banking facilities to coronavirus-impacted businesses operating at free trade zones and special economic zones, the central regulator’s website reported.  
Last month, the central bank added broiler chicken farms, businesses involved in offering greenhouse supplies, vegetables and cucurbits, as well as floriculture and ornamental fish rearing businesses, Mehr News Agency reported. 
The initial list included the following businesses and jobs:
1. Businesses, institutions and companies responsible for preparing and selling meals, including restaurants, buffets, reception halls, coffee houses and dinners. The Ministry of Industries, Mining and Trade determines whether these businesses are eligible to receive government aid. 
2. Businesses active in tourism and hospitality sector, namely hotels, apartment hotels, tourist centers, centers accommodating pilgrims, guesthouses, eco-lodges, leisure centers and museums. The onus is on the Ministry of Cultural Heritage, Handicrafts and Tourism to determine whether these businesses qualify for government aid. 
3. Transportation companies, namely air, road, rail and marine transportation firms. The Ministry of Roads and Urban Development decides whether these businesses are eligible to receive government aid.
4. Intra-city public transport companies. The Interior Ministry will be responsible for ascertaining their eligibility. 
5. Travel agencies. The onus is on the Ministry of Cultural Heritage, Tourism and Handicrafts to determine whether these businesses would qualify for government aid. 
6. Apparel manufacturers and distributors. The Ministry of Industries, Mining and Trade will determine the eligibility of these businesses. 
7. Manufacturers and distributors of footwear and bags. The Ministry of Industries, Mining and Trade will determine the eligibility of these businesses.
8. Confectionaries and shops selling nuts, dried fruits, ice-cream and fresh juice. The Ministry of Industries, Mining and Trade will determine the eligibility of these businesses.
9. Gyms, sports and leisure centers. The onus is on the Ministry of Sports and Youth to determine whether these businesses qualify to receive government aid. 
10. Cultural, educational and art centers, as well as media groups. The onus is on the Ministry of Culture and Islamic Guidance, Education Ministry and the Ministry of Science, Research and Technology to determine whether these businesses qualify for the government’s financial support. 
11. Handicraft manufacturers and distributors. The onus is on the Ministry of Cultural Heritage, Tourism and Handicrafts to determine whether these businesses would be eligible to receive government aid. 
12. Health Ministry’s licensed private-run health and treatment centers including laboratories and those providing para-clinical services.
13. Driving schools, barber shops and beauty salons. The Ministry of Industries, Mining and Trade will determine the eligibility of these businesses.
14. The Ministry of Culture and Islamic Guidance will also determine whether any bookstores or publisher would be qualified to receive government loans. 
Following the government’s approval of a 490 trillion-rial ($1.97 billion) bailout—out of a total 750 trillion-rial ($3 billion) package for low-income households and struggling businesses—to help small- and medium-sized economic enterprises impacted by the coronavirus, a total of 1.2 million enterprises that have insurance codes were identified and received text messages from the ministry to register at Kara.mcls.gov.ir for loans. 
“The Ministry of Cooperatives, Labor and Social Welfare will grant 120 million rials [$483] in loans to employers, provided they retain at least one worker on their payroll. Businesses, which were forced to shut down, will receive 160 million rials for each employee. The 24-month repayment period will start as of October,” Deputy Cooperatives Minister Isa Mansouri said. 

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