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Lending to Nomads

Lending to NomadsLending to Nomads

In the new fiscal year (started March 20) funds to the tune of $56 million have been allocated to provide loans to nomads for livestock farming and small businesses, said Karamali Qandali, head of Kerman’s Agricultural Jihad. “A total of $28 million will be given in loans at 4% and the remaining at 14% depending on the ventures to be set up and the number of groups involved,” Iranian Agriculture News Agency (IANA) quoted him as saying. Pointing out that 20% of the country’s red meat is produced by the nomadic tribes annually, he said the plan’s main goal is to increase red meat production by nomads.

 

Financialtribune.com