Type of Intervention: Financial and Economic
Sectors Involved: Central Bank, Corrections / Justice, Finance/Economy, Health, Private Sector and Businesses
Intervention Categories: Financial Policy and Aid; Stimulus packages and financial support
Level of Jurisdiction: National
Lead People/Agency: President of Iran, Hassan Rouhani, has directly made this decision.
Central Bank of the Islamic Republic of Iran, Ministry of Economic Affairs and Finance, Ministry of Labour and Social Affairs, and Ministry of Industry, Mine and Trade are the four leading bodies responsible for the implementation of this intervention.
Overview: Announcing support packages and economic impact payments which are worth 1000 trillion Rials for eligible individuals
Full details here: https://www.magiran.com/article/4031627
Other links: 1 2 3
Type of Justification: Advice of INTERNAL government advisory committee or group, Learning from other jurisdictions, Scientific Evidence (e.g. academic paper, report)
Source of Evidence or Justification: World Health Organisation, National – academic, National – government, National – other, International – academic, International – government, International – other
Evidence/Justification: This action was based on four major concerns: 1) supporting the households 2) reinforcing the healthcare and medical sectors 3) supporting the unemployed 4) financial aid for small businesses and employers
From the whole fund, 250 trillion Rials is allocated as “free facilities” which is going to be paid in 4 payments to the target households (2 of which are already paid).
The other 750 trillion Rials funds are allocated as loans to be paid to either families or small businesses which are worth 230 and 520 trillion Rials respectively.
The family loans are interest-free and their 30-moth paybacks are going to start 90 days after their approval for each household.
Also, under the special circumstances imposed by corona virus outbreak, the damaged businesses and firms will get loan options with a 12 percent interest.