Banks urged to establish more coop. with mining sector

TEHRAN, Jun. 24 (MNA) – Deputy Minister of Industry, Mine and Trade Saeed Zarandi called on domestic banks to forge further cooperation with the country's mining and mineral industries.

Deputy Ministry of Industry, Mine and Trade for Plan and Budget Affairs made the remarks late on Sunday, adding, “the hike in foreign exchange rates and US sanctions have significantly increased production costs, which requires banks to establish further cooperation with the mineral and industrial sectors.”

Speaking to CEOs of domestic banks in a session addressing production and employment plans, he stated, “under current sanctions, different organizations should significantly support production sector.”

The Ministry of Industry intends to use modern financial tools for boosting production, he said, adding, “in this regard, the banking system can play a leading role for financing economic enterprises in the country.”

In this meeting, CEOs of National Development Fund of Iran (NDFI) presented comprehensive programs on the activities of the Fund in the current year (started Mar. 21, 2019) for boosting the production sector.

MA/IRN83366563

News Code 146820

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