BIM Loans for SMEs Top $600m
BIM Loans for SMEs Top $600m

BIM Loans for SMEs Top $600m

BIM Loans for SMEs Top $600m

Bank of Industry and Mine has doled out 23 trillion rials ($613 million) in loans to small- and medium-sized enterprises since March 2016 as a part of the stimulus scheme for SMEs, the bank’s website announced.The stimulus package was announced by the government at the beginning of the previous year in March 2016 as part of broad efforts to fight a long-running recession and prop up weak demand in the economy.According to the BIM statement, SMEs received 135 billion rials ($3.6 million) from the bank during the two months ending May 21, creating 208 jobs in the process. According to the report, 116 SMEs have already been revived by BIM’s credit line. In June 2016, the Central Bank of Iran ordered banks and credit institutions to allocate a minimum 10% of their loans to small- and medium-sized enterprises to help create jobs and lift the beleaguered production sector.

Short URL : https://goo.gl/GAnV5c
  1. https://goo.gl/tNzbG7
  • https://goo.gl/YxHpVX
  • https://goo.gl/bjuoNt
  • https://goo.gl/ycxjjL
  • https://goo.gl/48eqX9

You can also read ...

German firms, especially those without business links to the US, want to continue their Iran business.
While Germany’s big banks are studiously avoiding Iran-related...
New Rules Allow  Direct Forex Sale
Businesspeople that have validated their purchase orders are...
Iran is the world’s biggest saffron producer and accounts for more than 90% of the global production.
Iran Mercantile Exchange launched saffron futures trading for...
Banking Amendments Approved
The Money and Credit Council approved the Central Bank of Iran...
Iran Khodro Expanding Presence in Iraqi Market
Iran’s largest carmaker, Iran Khodro, is set to export 6,000...
Tesla Admits Model 3 Braking Issue, Promises Fix
Tesla Inc’s Chief Executive Officer Elon Musk admitted on...
Uber Plans Taxi-Hailing  in Japan
Uber Technologies plans to launch its first taxi-hailing pilot...
Prices have been jacked up by car dealers and some makers by 6-22% only in the past few weeks.
Authorities are set to ratify new car prices for models...

Add new comment

Read our comment policy before posting your viewpoints