Iran continues advance payments to support manufacturing and pensioners

Iran’s Refah Bank has paid $1.5 billion advances to production units and $44,000 to small and large scale companies during the first nine months of the current Iranian year (started March 20, 2020), said the CEO of Refah Bank.

“The bank has also paid $880 million to active projects in the production sector and $476 million marriage advances as an interest-free loan,” said Esmaeel Lalegani, Trend reports citing IRNA.

“The bank’s assigned $5 million credit to pensioners in current Iranian year bank’s online system has paid 35,000 advances to pensioners in its first phase and 23,000 more in the second phase the third phase of advances will be paid on February 19. Total of $11 billion has been paid as Coronavirus advances to 7,500 businesses that were damaged by Coronavirus outbreak,” he said.

The government has approved to pay advances to businesses and production units that were closed due to COVID-19.

The Minister of Cooperatives, Labour, and Social Welfare has recently stated that $9.5 billion with the loan with a 12 percent interest rate has been assigned to all production units and damaged businesses.


Source: TREND News Agency