The administration has allocated 1,800 billion rials ($65.1 million at official exchange rate) to the development of rural areas Abolfazl Razavi, an official with first vice presidency’s rural development office said on the sidelines of a meeting in Khorasan Razavi Province on Tuesday, IRNA reported. There are 63,000 deprived villages nationwide and the government is tasked to develop them with help from the private sector, the official said. Razavi also vowed that rural people planning to establish a production, cooperative, mining, or knowledge-based firm, will receive loans four times their equity with 3 percent interest rate.
