Covid loans to the transport sector for $ 124 million

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Of the 52.5 trillion riyals ($ 192 million) requested so far, about 34 trillion riyals ($ 124 million) have been donated to companies and businesses heavily affected by the Covid-19 pandemic, according to the company. General Director of the Transport Efficiency Bureau of the Ministry of Roads and Urban Development.
“From the start of the pandemic to the present, 65% of the requested banking services have been provided to air, rail, road and sea transport companies,” Mehr news agency quoted Mohsen Sadecki as saying.
The official noted that about 202,000 applications were filed through which transport companies requested financial assistance to compensate for the losses suffered during the pandemic so that they can continue their activities.
“Almost 155,000 applications [constituting 77% of the overall figure] received their objects, and the rest are being processed. “
Sadeki said 31 applications for 31 trillion riyals (US $ 113 million) were filed in the airline sector, 15 of which received facilities valued at 22 trillion riyals or US $ 80.58 million (71% of the total).
In the rail sector, he added, 58 applications were filed for 8.9 trillion riyals (US $ 32.6 million), 23 of which so far received banking services worth 2.3 trillion riyals (US $ 8.42 million). ), which is only 26% of the total number of requests.
“We are doing everything we can to facilitate the process of providing these opportunities to transport companies by negotiating with banks.”

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