Economy, Domestic Economy
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Shot in the Arm for Clothing Industry

Shot in the Arm for Clothing IndustryShot in the Arm for Clothing Industry

Loans will be granted to Iran’s clothing and apparel manufacturers from the National Development Fund, Iran’s sovereign wealth fund, Labor Minister Ali Rabiei announced. The loans will carry a 16% annual interest, according to NDF head Safdar Hosseini. The two officials made the announcements in a recent meeting with the industry’s heavyweights. The interest charged on the loans will be lower than the over 20% currently charged by banks.

 

Financialtribune.com