Iran's Tose Taavon Bank looks to increase giving loans to local cooperatives

By Trend

The Tose Taavon Bank is looking to increase loan payments to cooperative and development sectors, said the CEO of Tose Taavon Bank Hojatollah Mahdian, Trend reports citing Fars News Agency.

"The bank plans to provide 3.2 trillion rials (about$7.6 billion) in loans to the cooperative and development sectors," he said.

He pointed out that the bank has paid 2.6 trillion rials (about$ 6.1 billion) in the last Iranian year (started March 21, 2021) and 70 percent of loans went to the cooperative sector.

According to the official, bank loans will create 47,000 new jobs in cooperative and non-cooperative sections.