Bank Melli Iran signs 30 trillion rial tourism development deal

Bank Melli Iran and the Ministry of Cultural Heritage, Tourism and Handicrafts have signed a memorandum of understanding (MoU) valued at 30 trillion Iranian rials to accelerate tourism and handicraft projects.

The agreement, signed during the 41st Strategic Council meeting of the Ministry, aims to strengthen financing capacities and facilitate investment. Under the terms, the Ministry will identify eligible applicants and introduce them to the bank, while Bank Melli Iran will review and process these projects within established credit guidelines.

A joint committee will be established between representatives of both organizations to streamline processes, including project introduction, credit approval, contract signing, and payment stages. This collaboration is intended to support investors, develop tourism infrastructure, and implement job-creating, economically viable projects.