$5.3 Billion in Loans to Support SMEs

The government plans to allocate 200 trillion rials ($5.3 billion) to prop up 10,000 enterprises in the current Fiscal year (March 2017-18), the chairman of Iran’s Small Industries and Industrial Parks Organization said. The plan is in line with the Ministry of Industries, Mining and Trade’s policy of helping industries emerge out of a recession by boosting  manufacturing capacity.

Ali Yazdani was also quoted as saying by IRNA that as part of a comprehensive plan, the government is planning to help complete unfinished industrial projects with more than 60% progress and renovate 5,000 industrial firms as well. Last year, the government granted $4.5 billion in loans to 24,000 small- and medium-sized enterprises. By definition, enterprises run by under 50 workers and under 100 workers are considered small- and medium-sized respectively, according to ISIPO.