EDBI to Con­tinue Grant­ing Fa­cil­i­ties With 11% In­ter­est

Iran News - - DOMESTIC -

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.

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