TEHRAN – The Ministry of Communication and Information Technology (CIT) financially supports space industry projects being implemented by the private sector, Mehr reported on Wednesday.

According to an agreement between the ministry and Iran Space Agency (ISA), the ministry supports the projects through giving loans.

The ISA plans to promote private sector active in the space-based business and provide financial resources through loans, ISA official Shabnam Yazdani said.

The projects which includes research and development plan, business development, product exports as well as providing instruments and developing applications can apply for the loan, she said.

She called hardware, software, content and security are four working groups, which are defined for applicants according to which, they can apply for the loan, she added.

Headed by President Hassan Rouhani, the Supreme Council of Space observe activities of Iran Space Agency, which is mandated to cover and support all the activities in Iran concerning the peaceful applications of space science and technology.

SB/MQ/MG