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Iranian Bank of Industry and Mine issues more loans to startup companies

Business Materials 22 June 2020 20:54 (UTC +04:00)
Iranian Bank of Industry and Mine issues more loans to startup companies

BAKU, Azerbaijan, June 22

By Elnur Baghishov – Trend:

The volume of loans issued by the Iranian Bank of Industry and Mine to the startup companies increased by 68 percent last Iranian year (March 21, 2019 through March 20, 2020), compared to the preceding year (March 21, 2018 through March 21, 2019), Asghar Paktinat, head of the presidium of the bank, said.

“The bank issued 238 loans worth 10.4 trillion rials (about $248 million) last Iranian year compared to 188 loans worth 6.2 trillion rials (about $147 million) during the previous year," Paktinat added, Trend reports referring to the Islamic Republic News Agency (IRNA).

“Some 78 startups received these loans last Iranian year which is by five companies more compared to the previous year,” head of the presidium of the bank said. “The bank is focusing on export-oriented startup projects this year (beginning from March 20, 2020).”

About 5,000 startup companies operate in Iran.

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