Sci & Tech

$454m Tech Aid Package Planned

The state-affiliated Iran National Innovation Fund will roll out finance via banking system to boost the growth of fledgling technology firms
$454m Tech Aid Package Planned
$454m Tech Aid Package Planned

The government-backed Iran National Innovation Fund plans to pay 100 trillion rials ($454 million) in loans to fledgling technology firms via banking system in the current Iranian year (started March 20).
According to Ali Vahdat, the head of the fund, the amount of allocation has been increasing in recent years, rising from 30 trillion rials ($136.36 million) in 2019-20 to 50 trillion rials ($277.27 million) in 2020-21, the fund’s website reported.  
This year’s expected amount is 100% higher than the cumulative loans paid out last year.
In a Sunday meeting with CEO of Bank Saderat Iran Hojjatollah Seydi, Vahdat presented an overview of the fund’s total capital for the current year.


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