Gov’t to Settle $11.6b of  Bank Debts
Gov’t to Settle $11.6b of  Bank Debts

Gov’t to Settle $11.6b of Bank Debts

Gov’t to Settle $11.6b of Bank Debts

The government will pay 450 trillion rials ($11.6 billion) of its debts to six state-owned banks by March 20, said the government’s spokesman, Mohammad Baqer Nobakht, on Tuesday. The measure was proposed and approved as part of the annual budget plan for the next fiscal year (2017-18) and is set to “lift banks’ capital and increase their lending power”, IRNA quoted Nobakht as saying. He also noted that the government has allocated 390 trillion rials ($10.1 billion) for development of infrastructure projects, 370 trillion rials ($9.6 billion) of which will be paid by the end of the current fiscal year.

Short URL : https://goo.gl/Fss1nh
  1. https://goo.gl/Ep3sdx
  • https://goo.gl/hMdc9p
  • https://goo.gl/vahcqM
  • https://goo.gl/OMkOkW
  • https://goo.gl/eTc26c

You can also read ...

Tehran to Host Int’l Leather Expo
The Fourth International Exhibition of Bags, Shoes, Leather...
NSFund Helping Knowledge-Based Firms Growth, Export Agenda
Government-backed Innovation and Prosperity Fund (NSFund) has...
All devices that support Wi-Fi are most likely affected and users may want to be wary of using Wi-Fi at all until patches are widely rolled out
One more vulnerability that is now affecting practically...
TCCIM Director Masoud Khansari (C) made the keynote speech at the latest gathering of the influential business body on Oct. 17. (Photo: Saeed Ameri)
Tehran Chamber of Commerce, Industries, Mines and Agriculture...
Miyaneh Steel Complex’s DRI plant was the second producer to utilize PERED, which came on stream on Oct. 15.
Iran has long relied on its cheap energy costs and abundance...
Massoud Karbasian (1R), sitting across his Indonesian counterpart Sri Mulyani Indrawati in Washington, DC.  
Iranian Minister of Economic Affairs and Finance Masoud...
NDFI to Offer Loans Worth $2b to Exporters
The National Development Fund of Iran is to allocate a total...
92% Rise in N. Khorasan Exports Value
More than 310,000 tons of goods worth around $61.5 million...

Add new comment

Read our comment policy before posting your viewpoints

Enter the characters shown in the image.