EDBI to Continue Granting Facilities With 11% Interest
TEHRAN – The CEO of Export Development Bank of Iran says that the bank will continue granting exporters with loans and facilities with 11 percent interest.
Dr. Ali Akbar Saleh Abadi said that the National Development Fund will grant loan facilities with 11 percent rate for exporters through its agent bank the EDBI.
He said that the bank granted more than 1,000b rials of facilities with 11 percent interest to exporters and it is to continue.
He added that the government has allocated subsidies for exports in the current year.
Saleh Abadi went on to say that exports companies can get up to six percent subsidy based on the volume of their exports.
He reiterated that the EDBI is a state-run government and its policy is not focused on profitability but its policy is to support the national exports.
He asserted that the National Development Fund allocates the facilities with 8.5 percent interest and the EDBI grants the received facilities to the exporters with 11 percent interest as the 2.5 percent of the total interest is banking fees.
He reiterated that the ceiling of facilities for the exporters is 40m tomans.