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EghtesadOnline: Interest rates on loans to small-sized enterprises will be cut by 8% as per a memorandum of understanding signed between the Ministry of Industries, Mining, and Trade and the Central Bank of Iran, said Sadeq Najafi, the managing director of Iran Small Industries and Industrial Parks Organization on Tuesday.

“The organization has deposited 2,000 billion rials ($47.61 million) into its account with the central bank and that will allow the bank to reduce interest rates on loans given to small enterprises from 18% to 10%, IRNA reported.

By definition, enterprises run by 50 workers or fewer are considered small-sized, according to the industries and industrial parks organization, according to Financial Tribune.

 

Interest rates Central Bank of Iran Cheap Loans Small Firms