Iran allots $1.5b to boost exports of handicrafts

TEHRAN,Aug.29(MNA) - Iran will pay $1.5 billion in loans to support exporters of handicrafts, the deputy head of Iranian Cultural Heritage, Tourism, and Handicrafts Organization said. Mohammad-Hasan Salehimaram added hat the loans will be paid with 6 percent interest. Iran has announced that exports of handicrafts during the first quarter of the current Iranian year, which began on March 20, rose by 276 percent compared to the same period in the past year. Salehimaram said that the growth in exports of handicrafts is projected to hit 300 percent by the end of the year. He added that some $500 million worth of handicrafts were exported in the past year. The value of exports is anticipated to reach $1.5 billion in the current year, he noted.