Subsidized Loans Continue to Low-Income Individuals

EghtesadOnline: Since the beginning of the calendar year in late March banks and credit institutions gave 1,080 trillion rials ($3.22 billion) loans to low-income people , namely to bolster youth marriage and childbirth and support citizens wanting to rent a home.

News ID: ۷۵۱۹۶۴

02 November 2022

Mostafa Qamari Vafa, the head of the public relations department of the Central Bank of Iran, said banks accepted 478,000 applications for childbirth loans worth 192 trillion rials ($573 million) in the last seven months, newswires reported.

Lenders were obliged in mid-April to lend to young parents to encourage childbirth.  The money is given to couples who had a child in the previous fiscal year (March 2021-22) and after.