TEHRAN – Iranian Finance and Economic Affairs Minister Ehsan Khandouzi has announced that the government is offering 400 trillion rials (about $800 million) of facilities to domestic producers, IRIB reported.

Speaking at the opening ceremony of the Economy Ministry’s Production Financing Facilitation Center in Tehran on Tuesday, Khandouzi said the mentioned center and a portal for online monitoring of the country's job creation facilities have been launched with the aim of speeding up production and employment.

“The Production Financing Facilitation Center and its system will conduct the approval and validation, provision of facilities as well as supervision of facilities throughout the country with speed and accuracy,” the minister said.

The official noted that the ministry also paid 400 trillion rials of facilities to production units in the previous Iranian calendar year (ended on March 19).

The ministry’s production facilitation programs are mainly focused on supporting the country’s knowledge-based production units, according to Khandouzi.

According to the data released by the Central Bank of Iran (CBI), the Iranian banking system has paid 7.2 quadrillion rials (about $14.4 billion) of facilities in the first two months of the current Iranian calendar year (March 20 -May 20, 2024), registering a 36.2 percent rise from the figure in the same period of the previous year.

Of the total facilities, 5.7 quadrillion rials (about $11.4 billion) equivalent to 79.3 percent, was paid to the business owners (real and legal), and 1.4 quadrillion rials (about $2.9 billion) equivalent to 20.7 percent, to the final consumers (households).

EF/MA