Iran launches 3.7-bln-USD credit line to help SMEs
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E-mail Xinhua, February 5, 2020
TEHRAN, Feb. 4 (Xinhua) -- The Central Bank of Iran (CBI) on Tuesday announced the launch of a credit line worth 3.7 billion U.S. dollars to help the growth of small and medium-sized enterprises (SMEs), Press TV reported.
The credit would enable manufacturers to obtain documents from the banks that would guarantee their payments owed to suppliers of raw materials and others on the supply chain, CBI governor Abdolnasser Hemmati was quoted as saying.
"These credits would gradually be given to active manufacturing units in the country," said Hemmati, adding SMEs are a main focus of the credit facility as the government seeks to help them survive the current economic situation in the country.
The launch of the credit facility is in line with CBI programs to help Iranian economy grow without relying on oil revenues, Hemmati noted. Enditem
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