Iran Launches Low-Interest Loan Scheme to Modernize Intercity Taxi Fleet
In a significant move to upgrade the country’s transportation infrastructure, the Road Maintenance and Transportation Organization has signed a pivotal agreement with a state-affiliated bank to provide low-interest loans for intercity taxi operators.
Eligibility and Loan Details
The new scheme targets owners of aging taxi vehicles, specifically those with a model year of 2011 or older (over 12 years of age). To qualify, operators must have had a minimum of 120 active, tracked trips in the past Iranian calendar year (1403). Eligible applicants can access low-interest banking facilities of up to 5 billion Rials to facilitate the replacement of their outdated vehicles.
A key condition for participation is that applicants must not have utilized any similar banking facilities from the Organization for the modernization of their intercity taxi fleet within the last five years.
Scrappage and Replacement Process
A central pillar of this initiative is a mandatory vehicle scrappage policy. Fleet owners who wish to benefit from the loan are required to scrap their current old vehicle and present the official certificate of destruction at the time of registering and receiving their new car through the Intercity Taxi Companies Union.
Priority for the scheme will be given to owners of the oldest vehicles in the fleet. The replacement vehicles under this program will be sourced from Iran Khodro’s production line, with the Samand Soren Plus model currently designated for this purpose.
Provincial Allocation and Application
The allocation of loans and new vehicle registrations is directly contingent on the scrapping of old vehicles. Should the allocated quota for any given province not be fully utilized, the remaining capacity will be reallocated to other provinces.
Prospective applicants are directed to contact the Road Maintenance and Transportation offices in their respective provinces of operation to register for the program.