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Iran provides loans to start-up companies in agriculture sector

Finance Materials 12 September 2022 16:55
Baku, Azerbaijan Trend News Agency
Iran provides loans to start-up companies in agriculture sector

Iran has issued a total of 480 billion rials (about $11.4 million) worth of loans to 350 start-up companies operating in the country’s agricultural sector since the beginning of the current Iranian year (March 21, 2022), Head of Iran’s Agricultural and Natural Resources Science and Technology Park, Majed Valadan said, Trend reports citing Iranian Ministry of Agriculture Jihad.

According to Valadan, the mentioned companies operate in Iran’s Agricultural and Natural Resources Science and Technology Park and several parks operating under auspices of it.

He added that Iran’s Agricultural and Natural Resources Science and Technology Park supports to start-up companies.

The official said that in this regard, the related fund of park takes steps in the direction of providing loans, developing the market of start-up companies and etc.

Valadan also pointed out that the share of the public sector in the mentioned fund is 49 percent, while private sector is 51 percent. The capital of the fund is 105 trillion rials (about $2.5 million).

“The start-up companies in the agricultural sector operate in the production of seeds, fertilizers, and various agricultural medicines,” he noted.

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