14490
Low-Cost Loans for Cooperatives
Economy, Business And Markets

Low-Cost Loans for Cooperatives

The newly-revived Management and Planning Organization plans to help provide low-cost loans (4-percent) to the cooperative sector. Accordingly, a plan is in place to provide 930 billion rials in loans ($32.9 million at official exchange rate) to the cooperative sector.
The Supreme Council of Cooperative’s Development is set to hold meetings in different provinces to address the matter, said an official with the ministry of cooperatives, labor, and social welfare on Monday.
The loans will be provided through three major sources including domestic resources, the National Development Fund of Iran, and managed funds.
There are currently 102,000 cooperatives actively operating across the country, half of which are focused on production and manufacturing, news website Banker, quoted Alborz Mohammadi, director general of manufacturing cooperatives, as saying.
Of all the manufacturing cooperatives, 24,300 are involved in the agriculture sector, 17,500 in industries, 1,700 in the rug industry, 1,200 in the mining sector, 1,700 in construction projects, and 1,700 in businesses to provide raw material for the manufacturing sector, he noted.
During the past two years none of the cooperatives have been shut down, rather “3,000 have been added,” the official announced.
“Increasing the number of units, however, is not enough,” Mohammadi said, clarifying that measures have also been taken to “fully reserve and exploit the potentials that have been created.”    
Further he noted that with optimum planning, and providing low-cost loans the ministry of cooperatives, labor and social welfare has focused on fortifying the cooperatives and solving their cash flow problems.
According to the official, compared to other sectors, providing job opportunities within the cooperative sector is extremely cost effective. With the low-cost loans provided, nearly 4,200 job opportunities will be created within this sector, he added.   

 

Short URL : http://goo.gl/PYc19M

You can also read ...

Bosch, Valeo Entering Iran Auto Parts Market
Ezam Automotive Parts Group is set to produce automobile parts...
Iran should not view Afghanistan only as a consumer market, if the two countries’ economic ties are to be strengthened.
A review of trade between Iran and Afghanistan over the past...
Geely Introduces 'Volvo Sibling' in Iran FTZs
Geelran Motor, an importer of China’s Geely vehicles in Iran,...
Iranian Exports to Nigeria Up 69%
Iran exported close to $3 million worth of goods to Nigeria...
Banking hurdles are slowing MAN’s return to Iran.
MAN Diesel & Turbo, a German multinational that produces...
Car Show Opens in Kermanshah
Kermanshah, a city in western Iran, is hosting the eighth...
200,000 Marriage Loans in 24 Days
A total of 11 agent banks have allocated 200,000 marriage...
Qeshm Cement Company to Start Exports to Mozambique
Qeshm Cement Company has readied its first consignment of...

Trending

Googleplus