A total of 740 trillion rials ($17.61 billion) in cheap loans will be allocated for industrial renovation and retrofitting incomplete projects in the current fiscal year (March 2018-19), an official with the Ministry of Industries, Mining and Trade said. “The loans will be granted to owners of small industries with an interest rate of 4% to finance projects with more than 60% physical progress,” Younes Alasti was also quoted as saying by IRNA.
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