Working capital and financing of mineral projects

According Mining News Pro - Reported in to the Public Relations Department of the Investment Fund for Mineral Resources Investment, the Investment Fund for Mineral Resources Investment and the Cooperative Development Bank signed a memorandum of understanding.

According to the memorandum signed by Farid Dehghani, the CEO of the Fund for the Investment Insurance of Mining Activities and Hojjatollah Mehdiyan, the Development Cooperation Co-operative Bank, the Development Bank is obliged to use the resources of the National Development Fund, comprehensive employment resources, bank resources and development resources The sustainable rural employment of the National Development Bank and the Bank, after issuing the insurance policy by the Fund as a guarantee of repayment, will provide facilities up to the limit of the issued insurance policy to provide working capital or financing the mining and mineral sector projects.

The term of validity of this agreement is 3 years, which will be renewed by agreement of the parties before expiration of the term.

It should be noted that the repayment of this facility up to 80% of the price approved by the Fund or estimating the cost of mineral resources is in accordance with the Bank`s rules, and the rest is left to the applicant and in cash.