Domestic Economy

COVID-19 Business Relief Payments Exceed $324m

Businesses that have been hurt directly and closed down by COVID-19 will receive 160 million rials [$640] for each worker and those that were not shut down are eligible to receive 120 million rials [$480] for each of their workers.
COVID-19 Business Relief Payments Exceed $324m
COVID-19 Business Relief Payments Exceed $324m

More than 80,960 billion rials ($324 million) worth of loans have been paid to the applicants of the government’s coronavirus relief package for businesses hurt by the outbreak of coronavirus thus far, says Hossein Mahmoudi, an official with the Ministry of Cooperatives, Labor and Social Welfare.
“The taskforce to combat economic consequences of coronavirus had estimated to receive loan applications worth 200,000 billion rials [$800 million]; however, banks have registered 522,533 loan applications which included loans worth 133,130 billion rials [$532 million] for 977,181 people so far,” he was quoted as saying by IRNA.
He added, “Registration for coronavirus loan started at on May 9, 2020 and ended on Oct. 21, 2020. The lending program is ongoing but there is no more registration possible except for businesses engaged in three fields namely tourism, culture and arts, and sports and youth. Businesses of these three fields have until Jan. 19 to apply for loans. 


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