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Loans for Small Industries

Loans for Small IndustriesLoans for Small Industries

Small industries are set to receive 250 trillion rials in loan facilities as allocated by the ministry of industry, mine and trade, said the deputy minister on Wednesday.

“Government officials and executives from Iran Small Industries and Industrial Parks Organization (ISIPO) agreed to offer two loans worth of 100 trillion and 150 trillion rials,” said Mohammad Ali Seyed-Abrishami, the deputy minister and managing director of the organization, in a meeting with the industrialists at Shahrekord Industrial Estate, an industrial park located in the Shahrekord, Chaharmahal and Bakhtiari.

Nearly 81,000 small manufacturing units are currently active in Iran.

“The ministry has prepared a list of the industrial units which are in need of  financial support,” said the deputy minister, adding that the list has been submitted the banks assigned with offering the loans.

As another measure taken by the government to promote small industries in the country, the ministry of industry together with the Bank of Industry and Mines (BIM) are also planning to set up a new bank to support the private sector.

The bank is to provide finance for manufacturers at industrial parks to purchase equipment and machinery, in an attempt to improve business environment in the country.

Financialtribune.com