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Gov’t Rolls Out Bailout Loans for Pandemic-Hit Tourism Sector

Gov’t Rolls Out Bailout Loans for Pandemic-Hit Tourism SectorGov’t Rolls Out Bailout Loans for Pandemic-Hit Tourism Sector

Travel and tourism players, including tour guides and owners of traditional restaurants, eco lodges and hotels, will receive loans worth between 160 million rials ($637) and 9 billion rials ($35,856) at an interest rate of 12%, a relatively cheap rate considering the current inflation rate of 29%. 
Registration at Kara.mcls.gov.ir for tourism loans started on Nov. 19, following the approval of the government relief package by the taskforce to fight the economic impacts of coronavirus on Sept. 30.
As per the guidelines prepared by the taskforce, tour guides will receive loans worth 200 million rials ($796); travel agencies between 1,500 and 3,000 million rials ($5,976-$11,952); tourist transportation companies 800 million ($3,187); centers for tourism studies 600 million rials ($2,390); and traditional hotels and eco lodges will be eligible to receive between 800 million rials ($3,187) and 2,000 million rials ($7,968), depending on their grade, floor area and number of rooms. 

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