Cheap Loans for Artists

EghtesadOnline: Minister of Culture and Islamic Guidance Seyyed Abbas Salehi said a total of 1,200 billion rials ($5.26 million) in cheap loans will be paid to 75,000 artists next month.

News ID: ۷۸۵۶۰۱

22 August 2020

“Between 6,000-7,000 billion rials [$26.32-30.71 million] worth of loans were approved to be paid to artists following the outbreak of coronavirus. So far, banks have granted loans valued at 600-700 billion [$2.63-3.07 million] to artists and art enterprises that registered at Kara.mcls.gov.ir for the coronavirus loans,” he added.

Art Credit Fund (formerly known as Artists Credit Fund) of the Ministry of Culture and Islamic Guidance also paid insurance premiums of artists for three months, he was quoted as saying by IRNA.

Noting that the Plan and Budget Organization is also planning to grant financial facilities at the lending rate of 4% to artists, the minister said, “The preliminary approval of the proposal has been secured.”