Managing director of the Cooperative Development Bank said Sunday the bank is willing to lend $1.3 million to knowledge-based cooperatives. Muhamad Ali Sahmani told a meeting that banks have been tasked by the government to fund small and medium businesses, IRNA reported. Behzad Soltani, head of the Innovation and Prosperity Fund, said 1,650 knowledge-based companies are active in Iran and can each borrow $100,000 from the fund.
