Loans to Needy

Loans to Needy Loans to Needy

The Imam Khomeini Relief Committee and Qarzol-Hasaneh Mehr Iran Bank (QMB) signed a memorandum of understanding to offer long-term loans to households under IKRC coverage to help create self-employment. Based on the MoU, the two organizations will provide $43 million (1,400 billion rials) and each household will get $4,600 (150 million rials) as loans after providing collateral. Applicants can reapply once they settle their earlier debts. QMB provides interest-free loans to legal and individual entities in dire need of funds, reports IRNA.