Cooperatives will receive a fourth of the total 160 trillion rials ($5.1 billion at market exchange rate) planned for financing small- and medium-sized enterprises, said the interim CEO of Cooperatives Development Bank (TT Bank). Hojjatollah Mahdian also noted that small- and medium-sized cooperatives account for 70% of the bank’s total paid loans, IRNA reported on Wednesday. “Enhancing ties with European banks and upgrading e-banking services are among TT Bank’s agenda,” he said.
