Domestic Economy

Reconstruction Loans Worth $50m Extended to Urban Slum Areas

slum loans
slum loans

Reconstruction loans have been extended to 18,713 applicants (per housing unit) in urban slum areas since last Iranian year (March 2019), says Mohammad Hassan Alamdari, a senior official with Bank Maskan, the state agent bank of the housing sector. 
“The total value of these loans stands at 12,600 billion rials [$50 million],” Alamdari was quoted as saying by Hibna. 
Loans worth 500 million rials ($2,000) with a lending rate of 9% and renovation loans also worth as much with a lending rate of 18% have been given to owners of homes located in urban slum areas. 


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