Post Bank Iran, a state-owned commercial bank, has been tasked by the government’s to help fund job opportunities in rural areas. The bank is to receive 3 trillion rials ($98 million) in credit to provide cheap loans to the rural population. The money will be raised through the National Development Fund of Iran. PBI reached an agreement with the Presidential Office and Management and Planning Organization according to which people in rural areas with plans to launch a new business or improve their existing trade might apply for loans at 4-6% interest, banker.ir reported on Saturday. By creating job opportunities in rural areas the government is trying to curb the massive migration to larger cities.
