The Ministry of Telecoms will grant loans to local mobile-app developers. According to the website of the ministry, Iranian mobile app developers can apply for loans up to 150 million rials ($3,750). The amount can be increased if the developers show a profitable business plan to the ministry. The interest rate on the loans has not been announced yet. The loans to individual developers will be granted by Omid Entrepreneurship Fund, a government organization formerly known as Mehr Imam Reza Central Fund, which is active in micro-financing, while the ministry will lend to businesses and startups through its own resources. The financial assistance program comes in the wake of the government’s push to develop technological products and services. According to data released by the ministry, the government has allocated more than 1.55 trillion rials ($39.5 million) to the expansion of the ICT sector.
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