Iran Northeastern Province Non-Oil Exports Volume Up 30%

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    Non-oil export volumes increased from Iran as it…


    Helmholtz Watson

    Iran Loaned Over $6 Billion To Small and Medium Businesses in 5 months

    Iran’s Ministry of Industry, Mining and Trade announced that in the first five months of the current Iranian calendar year (March 21-August 22), some 264.943 trillion rials (nearly $6.3 billion) worth of bank loans have been offered to small and medium-sized enterprises (SMEs) to complete semi-finished projects with an over 60 percent physical progress.

    Over 16,500 production units registered for receiving bank loans in the mentioned time span of which 10,005 units received the facilities, IRNA reported on Tuesday.

    Central Bank of Iran (CBI) has defined supporting production as its major plan in the current Iranian calendar year, which is named the Year of Pickup in Production, and in this regard CBI Governor

    Abdolnaser Hemmati has several times stressed that supporting production units to flourish production is the priority of the country’s banking system in current year.

    In early May, the official outlined CBI plans for neutralizing or relieving the impact of U.S. sanctions on the country’s economy and mentioned providing liquidity and working capital to maintain and boost domestic production as one of those plans.

    CBI’s plans take two major approaches, one of which is to secure finance for production activities and also to provide the working capital needed for such activities.

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