TEHRAN, Iran, Mar.27
Trend:
A total of 3,000 local micro funds have been by Iran's Omid Entrepreneurship Fund to support small businesses in the country's villages, said the CEO of Omid Entrepreneurship Fund Asghar Nourollahzadeh, Trend reports citing IRNA.
"The aim is to increase the number to 5,000 funds in current Iranian year (started March 21,2021)," Nourullahzadeh said.
"These local micro funds were formed after studies in finance of small local businesses in 2014," he said.
He said the local micro funds are a system to provide necessary resources to small businesses and if these businesses succeed, they can obtain new credit for further development.
"Local micro funds are instruments to develop businesses in villages and rural areas that provide finance based on local features of the local area," he said.
"Mostly women have applied for membership in these funds since many of their businesses are unofficial and banks would not support them," he said.