88253
Gov’t Loans for Apparel Production in Rural Areas
Gov’t Loans for Apparel Production in Rural Areas
Tuesday, June 19, 2018

Gov’t Loans for Apparel Production in Rural Areas

Tuesday, June 19, 2018

Gov’t Loans for Apparel Production in Rural Areas

The government has begun the process of allocating loans to support the development of apparel production in rural areas, the head of Iran’s Small Industries and Industrial Parks Organization said. According to the Persian economic newspaper Donya-e-Eqtesad, Sadeq Najafi added that the first phase of the plan is targeting five provinces with the highest rates of unemployment, namely Kermanshah, Chaharmahal-Bakhtiari, Ardabil, Hamedan and Gilan. It is expected to create a total of 5,480 direct job, ILNA reported. As per the memorandum of understanding signed earlier between the Plan and Budget Organization of Iran and the Ministry of Industries, Mining and Trade, at least 680 billion rials ($16.19 million) are to be allocated to each province.  The loans will be paid with an annual interest rate of 18% over five years while the Plan and Budget Organization has committed to pay half of the interest in the form of subsidy. 

Premium

Subscribe to the Financial Tribune to continue reading this article or Log in to your account if you are already a subscriber.

Find out more about our subsciption plans here.

Short URL : https://goo.gl/mcfAEn
06/19/2018
  1. https://goo.gl/7c2BVX
  • https://goo.gl/KBdMvi
  • https://goo.gl/NcW8Np
  • https://goo.gl/NMxWbb
  • https://goo.gl/pr6G1w

You can also read ...

Iran-Afghanistan Trade Corridors to Bear Fruit for Both India, China
A strategic deployment of trade corridors is taking shape...
EIB Casts Doubt on European Plan to Salvage Nuclear Deal
The European Investment Bank’s global operations would be put...
India Says Iran Economic Ties Not Affected by US Sanctions
Less than three weeks before the first wave of US sanctions...
MTN Halts Iran Fiber Optic Investment
South Africa’s MTN has halted collaborations with Iranian...
Think Tank Recommends Ways of Overcoming JCPOA Challenges Facing EU
European efforts to keep Iran in the nuclear deal (formally...
Majlis Think Tank Calls for  Regulating Cryptocurrency
The research arm of Iran's Parliament has conducted a study on...
Stocks Bow to Systematic Risks
Systematic risks have caught up with the Iranian stock markets...
Warning to Banks Withholding Customer Data
The Iranian National Tax Administration’s special prosecutor...

Add new comment

Trending

Googleplus