Efforts to Boost Loans for SMEs

In a letter, the Central Bank of Iran’s Governor Valiollah Seif has called on all governors across the country to undertake strict and effective supervision over how bank loans are allocated to optimize the process of boosting small- and medium-sized enterprises and their productivity. “The share of providing finance for working capital in productive businesses has increased to 62.8% in the first seven months of the current fiscal year [ending Oct. 22] from 46% some five years ago,” Seif wrote in the missive reported by the official news website of the central bank. The letter comes after local media reports indicated banks have had a subpar performance in coming up with the funds as part of CBI’s plan to boost SMEs.