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Amount of loans issued to Iran’s trade sector disclosed

Finance Materials 28 July 2020 12:20
Amount of loans issued to Iran’s trade sector disclosed

BAKU, Azerbaijan, July 28

By Elnur Baghishov – Trend:

Iranian banks and financial organizations issued loans worth 466 trillion rials (about $11.1 billion) for the trade sector during the first three months of current Iranian year (March 20 - June 20, 2020), Trend reports referring to the report by Central Bank of Iran (CBI).

The loans worth over 21.9 trillion rials (about $521 million) were issued to create the facilities, while the loans worth 204 trillion rials (about $4.87 billion) were issued to ensure working capital in the trade sector.

According to CBI, the loans worth 1.9 trillion rials (about $45.4 million) were issued for repair works, and the loans worth over 31.7 trillion rials (about $756 million) for development projects in this sector.

The loans worth 205 trillion rials (about $4.88 billion) were issued for the purchase of products (including equipment) and the loans worth 616 billion rials (about $14.6 million) - for the purchase of housing, the report said.

The funds in the amount of 215 billion rials (about $5.11 million) million were allocated for other purposes in the trade sector.

Iranian banks and financial institutions have issued loans worth a total of 2.24 quadrillion rials (about $53.5 billion) to various sectors during the first three months of current Iranian year (March 20-June 20, 2020).

The amount of loans issued to various economic sectors in Iran increased by 50.5 percent during the first three months of current Iranian year (March 20-June 20, 2020) compared to the same period of the last Iranian year.

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