Security Deposit Lending Met With Cold Reception

Nine out of 19 people who have opened account with designated banks for security deposit assistance loans have received their loans as of Aug. 23, Minister of Roads and Urban Development Mohammad Eslami said recently. 
“Out of 252,000 eligible applicants for the security deposit assistance loans, the ministry has introduced 49,017 to the banks,” he was quoted as saying by Mehr News Agency. 
According to Central Bank of Iran’s Governor Abdolnasser Hemmati, a total of 200 trillion rials (870 million) out of the 750-trillion-rial ($3.26 billion) coronavirus bailout have been allocated to low-income renters as security deposit assistance at the lending rate of 13%.