Iran discloses amount of loans issued for agricultural machinery purchase
BAKU, Azerbaijan, August 10
By Elnur Baghishov – Trend:
About 7.23 trillion rials (about $172 million) in loans were issued to Iran's agriculture sector on machinery purchase during first 4 months of the current Iranian year (March 20-July 21, 2020), director of the Iranian Agricultural Equipment Development Center Kambiz Abbasi said, Trend reports referring to the Ministry of Agriculture Jihad.
According to Abbasi, this has resulted in an increase in the purchase of agricultural machine.
The director noted that despite restrictions regarding tractors, more than 7,100 tractors have been added to Iran's agricultural machinery.
Iranian banks and financial institutions provided loans to the agriculture sector worth 145 trillion rials (about $3.46 billion) during the first three months of the current Iranian year (March 20-June 20, 2020).
In total, the loans worth 2.24 quadrillion rials (about $53.5 billion) were issued to various sectors in the first three months of the current Iranian year (March 20-June 20, 2020). This is an increase of 50.5 percent compared to the same period last Iranian year.