Iran and Germany have signed a MoU for the transfer of knowledge and experience in financing small- and medium-sized enterprises (SMEs), said a report.

The cooperation agreement was signed between Iranian Ministry of Cooperatives, Labour and Social Welfare and German Savings Banks Association (DSGV) to develop and expand financing of enterprises of Iran, according to the Iran Daily News.

The joint project covers workshops, management training to bank clerks, advising on procedures, business processes, job network management, mapping a financing system for SMEs as well as recommendations on related policies, it added.