List of Businesses Eligible for Pandemic Loans Gets Longer

EghtesadOnline: The Central Bank of Iran expanded the list of businesses directly hit by the coronavirus pandemic, which are eligible to receive government-backed loans.

News ID: ۷۸۵۵۳۵

20 June 2020

CBI added chicken farms; greenhouse units; vegetables, cucurbit and floriculture businesses and ornamental fish farmers to the list of loan receivers, Mehr News Agency reported.

The old list published on CBI website included the following businesses and jobs:

1. Businesses, institutions and companies responsible for any meal prepared outside home, including restaurants, reception halls, coffee houses and dinner outlets. The Ministry of Industries, Mining and Trade is responsible to determine businesses eligible to receive government aid.

2. Businesses active in tourism and hospitality sector, namely hotels, apartment hotels, tourist centers, centers receiving pilgrims, guest houses, eco-lodges, leisure centers and museums. The onus is on the Ministry of Cultural Heritage, Handicrafts and Tourism to determine whether these businesses qualify to receive government aid.

3. Companies active in air, road, rail and marine transportation fields. The Ministry of Roads and Urban Development is responsible to determine businesses eligible to receive government aid.

4. Intra-city public transport companies. The Interior Ministry will be responsible to ascertain whether they qualify to receive government loans.

5. Travel agencies. The Ministry of Cultural Heritage, Handicrafts and Tourism is responsible for determining whether these businesses qualify for government aid.

6. Apparel manufacturers and distributors. The Ministry of Industries, Mining and Trade will determine the eligibility of these businesses.

7. Manufacturers and distributors of footwear and bags. The Ministry of Industries, Mining and Trade will determine the eligibility of these businesses.

8. Confectioneries and shops selling nuts, dried fruits, ice-cream and fresh juice. The Ministry of Industries, Mining and Trade will determine the eligibility of these businesses.

9. Gyms, sports and leisure centers. The onus is on the Ministry of Sports and Youth to determine whether these businesses qualify to receive government aid.

10. Cultural, educational and art centers as well as media groups. The Ministry of Culture and Islamic Guidance, Education Ministry and the Ministry of Science, Research and Technology will jointly determine whether these businesses qualify for state financial support.

11. Handicraft manufacturers and distributors. The onus is on the Ministry of Cultural Heritage, Handicrafts and Tourism to determine whether these businesses are eligible to receive government aid.

12. Health Ministry’s licensed private-run health and treatment centers, including laboratories and those providing para-clinical services.

13. Driving schools, barber shops and beauty salons. The Ministry of Industries, Mining and Trade will determine the eligibility of these businesses.

14. The Ministry of Culture and Islamic Guidance will also determine whether bookstores or publisher are qualified to receive government loans.

Following the government’s approval of a 490 trillion-rial ($2.69 billion) bailout out of a total package worth 750 trillion rials ($4.12 billion) for low-income households and struggling businesses to help small- and medium-sized enterprises impacted by the coronavirus, a total of 1.2 million enterprises that have insurance codes were identified and received text messages from the ministry to register at Kara.mcls.gov.ir for loans.

“The Cooperatives Ministry will grant 120 million rials [about $660] in loans to employers, provided they retain at least one worker on their payroll. Businesses, which were forced to shut down, will receive 160 million rials for each employee. The 24-month repayment period will start as of October,” Deputy Cooperatives Minister Isa Mansouri said.

So far, 228,000 economic enterprises have enrolled at Kara.mcls.gov.ir and 126,000 with a total of 238,000 employees were found eligible for the bailout.

Mansouri noted that close to 75,000 files were opened in banks for processing their loans.

“Applicants whose files have been sent to banks by June 13 may refer to the branch concerned and receive their loans,” he said.