BAKU, Azerbaijan, Dec. 24
By Elnur Baghishov - Trend:
Twenty trillion rials (roughly $476 million) of loans have been allocated as working capital for Iran's manufacturing and export enterprises from the country's National Development Fund, Iranian Deputy Minister of Industry, Mine and Trade and the head of Trade Promotion Organization of Iran (TPO) Hamid Zadboum said at a meeting on the study and solution of exporters' problems, Trend reports via the TPO website.
Zadboum noted that five trillion rials of this amount will be paid through the Export Development Bank of Iran, while the rest will be paid via other Iranian banks.
The interest rate on the loans will be defined according to the rates established by the National Development Fund and the Money and Credit Council of Iran, Zadboum said.
According to the deputy minister, 50 percent of the interest income from the issued loans will be taken by the National Development Fund, while the other 50 percent will be shared among the involved banks.
The meeting on the study and solution of exporters' problems was attended by representatives of the TPO, as well as the country's Central Bank, Export Development Bank, Customs Administration, State Tax Organization, Chamber of Commerce, Industries, Mines and Agriculture and other organizations.
