NEWS
Industry   Banks  

Nearly $420m of facilities allocated to production units in 2 months

Iranian Industry, Mining, and Trade Ministry announced that a total of 17.6 trillion rials (about $419.04 million) of facilities have been allocated to support 465 production units in the first two months of the current Iranian calendar year (March 20-May 20).

As reported by IRNA, under the framework of the production and employment program, 168 units were introduced to the country’s acting banks in the mentioned two months, of which 69 units received facilities worth 2.8 trillion rials (about $66.6 million).

Following a program to support domestic production in the previous Iranian calendar year (ended on March 19) which was called the year of “Pick-up in Production” by the Leader of the Islamic Revolution Seyed Ali Khamenei, over 15 months from February 20, 2019, to May 20, 2020, a total of 2,500 production units were referred to the country’s acting banks, of which 737 units have received facilities amounted at 40.4 trillion rials (about $961.9 million).

According to the data provided by the Central Bank of Iran (CBI), the Iranian banking system paid 9.749 quadrillion rials (over $232 billion) of facilities to domestic economic sectors in the past Iranian calendar year, 26 percent more than the preceding year.

Last year, the Industry Ministry implemented several programs for promoting domestic production and increasing exports which included supporting small and medium-sized enterprises (SMEs) and reviving the country’s idle production units.

The ministry is continuing to pursue the mentioned programs in the current Iranian calendar year which is called the year of “Surge in Production by the leader.

In this regard, CBI has been supporting the ministry by offering facilities to the production sectors.

Back in May, CBI Governor Abdolnaser Hemmati said promoting domestic production is the main priority of the country’s banking system in the current Iranian calendar year.

Hemmati mentioned the CBI strategies for supporting domestic production, saying: “The Central Bank has taken effective measures, including granting facilities to production companies, small and medium enterprises, and knowledge-based companies to support this sector.”

News No: 9695
Date: 2020/06/13 - 23:43
News Source: TehranTimes

Abdolnaser Hemmati  Surge in Production  Central Bank of Iran  Trade Ministry 

Comments:

Leave a Comment:

   
   
   
 

Rouhani inaugurates 3 major industrial, mining projects worth $641.6m

Iranian President Hassan Rouhani on Tuesday inaugurated three major industrial and mining projects worth 26.95 trillion rials (about $641.66 million) via video conference concurrent with the Government Week (August 23-29), IRNA reported.
 

Indigenizing industrial equipment saves Iran over €1b

Relying on domestic production has saved Iran €1.045 billion since the implementation of a program during which 11 desks have been held on the matter, Iranian Industry, Mining and Trade Ministry data showed.
 

Iraq eager for joint investment with Iran in technical-engineering fields

Iranian economic attaché in Basra said that Iraq is eager for joint investment with Iran in the technical and engineering fields, IRNA reported.
 

Launching forex bourse best way out for Iran’s currency dilemma

Iranian economic experts believe that launching a bourse for trading foreign currencies is going to be the best way for the country to overcome the current challenges of the forex market including the high rates.
 

Industrial projects to create 41,000 direct jobs by next March

Iran’s acting minister of industry, mining, and trade said that inaugurating 200 major projects by the end of the current Iranian calendar year (March 20, 2021) is going to create 41,000 new direct jobs across the country, Mehr news agency reported.
 

CBI pledges to restore balance in forex market in coming weeks

The Central Bank of Iran (CBI) is taking necessary measures for restoring balance in the domestic foreign currency market, Tasnim reported on Saturday.
Upcoming Events
Publications
 Mines & Metals

Mine & Business Today

 Scrap & Recycling

Ahangan

Our partners