Headline: Central Bank Clarifies Procedure for Securing Low-Interest Employment Loans
In a move to bolster economic participation and support small-scale entrepreneurs, the Central Bank of the Islamic Republic of Iran has issued a detailed clarification on the application process for its low-interest employment loans.
A Structured Pathway to Entrepreneurship
According to the official announcement, prospective applicants for these financial facilities must first present their detailed business plans to designated support institutions. Key organizations identified for this role include the Imam Khomeini Relief Foundation and the State Welfare Organization of Iran. This initial step is designed to ensure that proposals are viable and receive the necessary foundational support before funding is allocated.
Favorable Terms for Sustainable Growth
The Central Bank has outlined highly favorable terms for these loans, underscoring their role as a catalyst for sustainable economic development. The facilities carry a modest 4% interest rate and are to be repaid over a 60-month period. For projects channeled through the Innovation Fund, a slightly shorter 48-month repayment window has been established.
Nationwide Banking Cooperation
The initiative is supported by a comprehensive collaboration across the nation’s banking system. All banks within the country’s financial network are mandated to cooperate with the supporting institutions in the disbursement of these loans, ensuring a unified and efficient implementation of this economic support program. This structured approach highlights the government’s commitment to fostering job creation and empowering citizens through formal financial channels.