Tehran – The Iranian government has allocated 500 trillion rials (approximately $1 billion) in financial resources to support agricultural projects, a senior official announced.

 

The Central Bank of Iran (CBI) has approved the issuance of 500 trillion rials in investment deposit certificates through commercial banks to fund agricultural investors, with a particular focus on strategic projects, Director-General of Ministry of Agriculture's Economic Affairs, Mohammad Khaledi, said.

 

He said that the interest rate for these special certificates is set at 25% for purchasers and depositors, while the cost for investors seeking these funds will be around 30%, noting that 100 agricultural projects are currently under consideration, each requiring substantial financial resources exceeding 1 trillion rials ($2 million).

 

"If 20 to 30 percent of these 100 agricultural projects are funded through these certificates," Khaledi emphasized, "it will significantly transform the agricultural sector."

 

He further explained that the CBI has consistently sought innovative financing methods to curb inflation and avoid increasing liquidity. "As executive officials," Khaledi added, "we are committed to aligning with the Central Bank's policies and leveraging new opportunities to support agricultural production."

 

He expressed the hope that eligible agricultural production units would not encounter bureaucratic obstacles in accessing these financial resources through the certificates.