$136m Loans to Help Transport Firms Ward Off Covid Pandemic

The Iranian government has provided loans totaling 34 trillion rials ($136 million) to transportation enterprises affected by the coronavirus pandemic as of May, an official with the Ministry of Roads and Urban Development said on Tuesday.
Mohsen Sadeqi added that the money makes up 72% of the financial support worth 48 trillion rials ($192 million) allocated to the transportation sector, IRNA reported.
According to the official, the lending encompasses air, rail and road transportation sectors. 
“Close to 155,000 of the total 203,000 applications were submitted by bus, minibus and taxi drivers, who each received a loan of 160 million rials [$640] with a 12% interest rate and a two-year repayment period,” he added.