INIF Extends Loans Worth Over $600 Million in Three Years

Iran National Innovation Fund, affiliated with the Vice Presidential Office for Science and Technology, has extended loans worth 170 trillion rials ($618 million) to support the technology ecosystem since December 2018.
According to Siavash Malekifar, the fund's deputy for development, the loans have been provided to growing startups and developed tech companies based on the size of their businesses, IRNA reported.
“Financial assistance is only one of the services offered by INIF to knowledge-based businesses. The fund provides over 70 types of services to businesses, in the form of loans, credit guarantees, investments and empowerment packages,” he said.
“During the period under review, the fund has also issued 2,415 credit guarantees totaling 53.8 trillion rials [$195.6 million] through the local banking system.”