Entrepreneurship Fund paid 9.5 billion rials for Khaf development

In an interview with IRNA on Sunday, Mehdi Ghorbani added: “These villages include Chamanabad, Bazgovi, Khajeh, Finder, Ahmadabad, Garazi, Aliabad and Pa’in Khafaf.”

He continued: 2 billion and 283 million rials will be paid by Omid Entrepreneurship Fund in the near future to support the micro-funds of 2 villages of Baghsani and Hezarkhoshe Khaf.

The executor of the Khaf Economic Development Triangle project said: “Omid Entrepreneurship Fund will support the local micro-funds of this city in line with the joint memorandum between Sangan Steel Industrial and Mining Company and Omid Entrepreneurship Fund.”

He stated: this amount is equivalent to 2.5 times the micro savings of the members of the credit funds of these villages and other villages of Khaf city will be covered by the financial support of Omid Entrepreneurship Fund in another stage.

“Financing local micro-funds is one of the most effective ways to facilitate villagers’ access to income to stabilize and improve rural micro-businesses,” he added.

Ghorbani added: In order to revive corporate social responsibility (CSR) and create social business in order to implement the policies of resistance economy, production leap and promote resilience of social systems, the University of Tehran in cooperation with Sangan Steel Mining Industries Company (Khaf Economic Deputy), Khorasan Governorate Razavi, the People’s Resistance Economy Organization of Khorasan Razavi and the Governorate of Khaf, has started implementing the triangle model of economic and cultural development with the focus on the comprehensive model of corporate social responsibility since May 2016 in 85 villages of Khaf.

He said: “Considering that one of the obstacles in starting rural businesses is the lack of collateral and bank guarantees by entrepreneurs to receive facilities, to solve this problem, micro-credit funds were set up in each village as a trust-based model.”

The governor of Khaf had previously told IRNA that 30 memoranda of understanding with mining companies and various organizations worth 350 billion rials had been signed over the past two years in line with the economic development triangle plan, some of which were operational and others underway. This year, 500 billion rials will be spent with the participation of these sectors in the form of VAT in the economic, social and infrastructure sectors of the city, and last year, a large number of ongoing projects in Khaf were funded with their participation.

The 150,000-strong city of Khaf is located 267 km southeast of Mashhad, with four central parts: Sangan, Zuzan and Salami plains, and a 123-kilometer border with Afghanistan.

Sangan Khaf Iron Ore Mines, with a total reserves of one billion tons, is one of the 10 largest iron ore mines in the world, supplying raw feed for the production of 17.5 million tons of concentrate, 15 million tons of pellets and five million tons of iron ore.
Sangan iron ore deposit complex is located in an area of ​​approximately 22 km in length and 10 km in width, 300 km southeast of Mashhad.