Iran's Rural Cooperation Fund Revived

EghtesadOnline: The CEO of central rural cooperative organization announced revival and reconstruction of Iranian rural cooperation fund, due to financial support and in response to repeated request of many farmers and also producers resident of villages and along with removing the obstacles encountering them and providing necessary facility in procedure of enjoying low interest in order to provide raw material, the Iranian rural cooperative fund was formed according to "decision date 11/3/1325" of the cabinet.

News ID: ۷۴۹۲۸۴

24 December 2019

Pat reported that Hossein Shirzad, the chairman and CEO of Iranian central rural cooperative organization announced that at the moment this fund has 2070 legal members including 2012 rural cooperative firms including about 4 millions producers of agricultural and 58 unions of rural cooperative firms having 152.315.100.000 Rials of investment was registered. He added you work in specific framework. This rural fund owns 95 branches which are in different provinces  and serve their members.

Agricultural minister deputy stated that considering the financial statement of 1396 & 1397 of this firm and due to the necessity of fund responsing to shareholder's right easy and cheap financial supply  and presence in financial markets and investing in agricultural section, central rural cooperation organization has reconsidered the decision about fund structure goal and regulation and has cooperated with shareholders representative to conduct and pursue the reformation. Mentioning that conducted reformation in fund regulation was to provide the fund support for producers to supply financial commercial supply of agricultural products and passing it in public gathering, the operating stages started, Dr. Shirzad stated that as well as registering new shareholders and incrementing the existing shareholders' investment to obtain cheap resources was considered in fund  reformation to have the least feasible rate in facility and presenting service for aforementioned legal members.

He added that by holding the fund public gathering in Aban 12th of this year, and selecting new members of board it is expected to have the support of corresponding organization so that so taht the fund can reach its real position in supporting agricultural and producers.