Interest Subsidy for Export Loans

EghtesadOnline: Iranian exporters received interest subsidy on loans worth 300 billion rials ($7.9 million) during the year to March 20, 2017, the head of Trade Promotion Organization of Iran announced.

News ID: ۷۷۸۷۰۱

22 August 2017

"The organization is considering such a subsidy for the current year as well," TPOI's official website quoted Mojtaba Khosrotaj as saying during the fourth meeting of the High Council of Exports on Saturday.

The meeting was convened to discuss banking-related problems facing exporters.

Khosrotaj also referred to subsidies for the issuance of export insurance policies which, he stressed, has been "well-received" by exporters, Financial Tribune reported.

The participants expressed their views on the necessity of establishing correspondent relations with international banks through the Central Bank of Iran, the implementation of currency swap treaties with other countries, the shift in CBI's focus from imports to exports and transparency and tolerance in CBI's directives.

Samad Karimi, CBI's head of exports department, also unveiled measures taken by CBI to reach currency agreements with other countries, including Turkey, Pakistan and Iraq.

It was decided that the Central Bank of Iran should investigate the reasons behind the difference in the number of export and import letters of credit in certain countries. CBI is to find a way to facilitate the opening of import L/Cs in the form of an agreement with those countries.