Iran Launches Low-Interest Loan Scheme to Modernize Intercity Taxi Fleet
In a significant move to upgrade the nation’s transportation infrastructure, Iranian authorities have greenlit a new financial initiative aimed at replacing aging intercity taxis. The scheme offers substantial low-interest loans to eligible vehicle owners, marking a proactive step towards enhancing passenger safety and service quality.
Eligibility and Loan Details
The joint agreement, signed between the Road Maintenance and Transportation Organization and a designated agent bank, paves the way for fleet modernization. Owners of older rental vehicles, specifically passenger cars with a model year of 2011 (1391 in the Persian calendar) or earlier, can now apply for banking facilities of up to 500 million tomans (five billion rials).
To qualify, applicants must demonstrate active service. A key requirement is having at least 120 active tracked trip records in the current year (1403). Furthermore, applicants must not have utilized any similar banking facilities from the organization for fleet renewal within the past five years.
The Scrappage Mandate and Vehicle Prioritization
A core condition of this program is the mandatory scrapping of the old vehicle. Owners are required to scrap their existing car and present the official certificate of destruction at the time of registering and receiving the new vehicle from the Intercity Taxi Companies Union.
Priority for the loans will be given to owners of the oldest vehicles in the fleet, ensuring the most outdated cars are replaced first. The replacement vehicles under this initiative will be sourced from Iran Khodro’s product line, with the Samand Soren Plus model currently designated for the program.
Provincial Allocation and Application Process
The allocation of loans will be managed at the provincial level. Should any province have unused capacity within its quota, the remaining slots will be reallocated to other provinces. Interested and eligible owners are instructed to apply through the Road Maintenance and Transportation Department offices in their respective operating provinces.
