President Hassan Rouhani said Tuesday all Iranians who receive cash subsidies will be granted Rls. 10 million in low-interest loans, which will be deducted from their monthly subsidies over several months after a three-month grace period.

“The 10-million-rial loan will be paid on an interest-free basis,” he said.

“Those interested to receive this loan should announce it via SMS,” the president added.

COVID-19 Outbreak in Iran: Over 23m Families to Receive Financial Aid
COVID-19 Outbreak in Iran: Over 23m Families to Receive Financial Aid

In addition to this loan, he noted, some 3 million low-income families will receive additional aid support in four batches, part of which has already been paid.

The president noted that a third loan, amounting to 10 to 20 million rials, will go to some four million families who meet the requirements.

The governmemt’s decision to give “interest-free” loans came after it got under fire for an earlier decision to get 12% interest from the poor families.

However, now the government has decided to pay for the interest itself.

The post Interest-Free Loans to Be Paid to Millions of Iranians amid COVID-19 Outbreak appeared first on Iran Front Page.