Saturday, November 27, 2004

IranMania News

IranMania News: "Iran’s Agriculture Commission criticizes banks

Saturday, November 27, 2004 - ©2004 IranMania.com
LONDON, Nov 27 (IranMania) – The Agriculture Commission Head of Iran’s Parliament criticized the country’s banking system for not allocating enough facilities to the farmers, Iran’s Abrar Eqtesadi Daily reported.

“According to the Third Development Plan, Iranian banks were required to allocate 25% of their facilities to the agriculture sector, yet so far they have fulfilled none of their commitments. Iran’s banks prefer backing trade activities rather than agricultural ones.” Jassem Saedi said.

Referring to the establishment of the Agricultural Products Insurance Fund, the official added: “Unfortunately despite receiving governmental subsidies, the fund has not been able to cover all agricultural products.”"

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