Entrepreneurs of North Khorasan borrowed more than 606 billion rials last year

In an interview with IRNA on Tuesday, Ramazan Hafezi stated: In 1999, 497 billion and 441 million Rials were paid for the implementation of 1,393 job-creating projects.

He added: “By implementing small businesses, more employment can be created, and the province has a high capability and capacity in this field.”

The head of Omid North Khorasan Entrepreneurship Fund said: out of last year, 518 projects were in the service sector, 231 projects in the agricultural sector, 217 projects in the industry sector and 663 projects were necessary and welfare loans.

Hafizi added: “One of the important measures of Omid Entrepreneurship Fund, which is different from banks, is the easy process of accepting guarantors for granting facilities, so that according to the ability of the borrower, subsidies and real estate are also accepted as guarantors.”

He said: “One of the most important projects of this institution is to create local micro-funds for rural and nomadic women, during which all women who are producing products in the village can enjoy these facilities by using a promissory note as a guarantor.”

The head of the Omid Entrepreneurship Fund announced the benefits of these facilities in the form of Qarz al-Hasna, noting that the villagers, nomads and entrepreneurs of the community are more loyal in paying the installments. In this regard, the vast majority of the fund’s borrowers pay their installments on time.

According to the 1995 population and housing census, North Khorasan has a population of 863,000, of which 44% are rural, and most of the province’s employment is in agriculture.