Title: New 400 Million Toman Housing Loan Initiative Announced to Support Rural and Small-Town Development
Government and Housing Foundation Boost Support for National Housing Projects
In a significant move to bolster national housing initiatives, the Housing Foundation of the Islamic Republic of Iran continues to play a pivotal role in supporting large-scale government projects. According to reports, the foundation actively participates in and aids the construction efforts for national plans such as “Mehr Housing,” “National Action,” and the “National Housing Movement,” working in close coordination with the government.
Substantial Increase in Loan Amounts
Hojatoleslam Hossein Rouhaninejad, the representative of the Supreme Leader in the Housing Foundation, highlighted a key development: the value of housing loans has been increased in several phases since the beginning of the 13th government. He noted that the Ministry of Roads and Urban Development, which oversees this matter, has now raised the maximum loan amount to 650 million tomans for certain initiatives.
Focus on Rural and Small-Town Revitalization
A central part of this strategy is the revitalization of housing in rural areas and towns with populations of less than 25,000. The Housing Foundation has been tasked with the annual renovation or reinforcement of 200,000 residential units in these regions. This critical objective is being achieved by providing substantial loans of 400 million tomans, featuring a 5% service fee and an extended repayment period of 20 years, making them highly accessible.
Commitment to Sustainable Lending
Emphasizing a balanced approach, the representative stressed that while the foundation will certainly propose further increases in loan amounts, the repayment capability of rural citizens remains a primary consideration. He explained that traditionally, these loan amounts see an annual increase of 50 to 100 million tomans. Any potential increase for the upcoming year will depend on the resources allocated by the government and its subsequent decisions, for which the foundation has already submitted its recommendations.
Progress on Housing for the Less Privileged
Significant progress was also reported on the “Housing for the Deprived” project. The Housing Foundation constructed 50,000 units for the less privileged in various cities over a three-year period. Furthermore, the construction of an additional 100,000 units, which began during the 12th government, was successfully completed under the 13th government. An additional 50,000 units have been approved in the current administration, with land secured, transferred to the foundation, and construction work already commenced.
In a concluding positive note, Hojatoleslam Rouhaninejad expressed hope that these new 50,000 units will also be supported with the same favorable 400-million-toman loan at a 5% fee, a proposal that has been welcomed by the government and is expected to be finalized.
Source: IRNA