Loans

Govt. paying $134m of loans to export companies

Govt. paying $134m of loans to export companies
Written by Publishing Team

TEHRAN – Head of the Trade Services Department of the Iranian Trade Promotion Organization (TPO) Ehsan Ghamri announced the allocation of 40 trillion riyals (about $134.6 million) to support export companies as part of the government’s non-oil export support package for the current Iranian calendar. General (ends 20 March).

Al-Ghamari said that the aforementioned financing is provided to approved export companies in the form of low-interest bank loans provided by 13 proxy banks.

According to the official, half of the above figure is provided by the National Development Fund (NDF) and the other half is provided by the banking system, TPO portal reported on Saturday.

Al-Ghamari pointed out that the process of evaluating the eligibility of 120 exporting companies that applied for the mentioned facilities has already been completed, and a list of these companies has been sent to the operating banks for credit qualification and payment of the facilities.

In September 2021, TPO Chairman Alireza Peyman Pak announced the completion of the instructions for the implementation of Article 3 of the Non-Oil Export Support Package for the current calendar year dealing with payment facilities for export-oriented companies.

According to Peyman Pak, the said facilities will be provided in the form of working capital loans as well as foreign currency facilities.

“Based on the provisions of the said instructions, which were prepared using the opinions of the main sectors affecting the country’s foreign trade, we have tried to make the process of allocating and paying working capital facilities online and in the shortest possible time, and on all information and assessments are done through the system in a meaningful and transparent manner,” Peman Buck said regarding the mentioned provisions.

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