Iran’s CBI reveals amount of loans issued to various sectors

BAKU, Azerbaijan, September 29

By Elnur Baghishov – Trend:

Loans worth 5.06 quadrillion rials (about $120 billion) were issued to various sectors in Iran during the first 5 months of the current Iranian year (March 20-August 21, 2020), Trend reports citing the Central Bank of Iran (CBI).

According to the report, this amount increased by 71 percent compared to the same period last Iranian year.

“Thus, worth of 375 trillion rials (about $8.92 billion) loans were issued to the agricultural sector,” the report said.

Also, the loans worth 1.56 quadrillion rials (about $37.1 billion) were issued to the industrial and mining sector, the report added.

According to the report, 308 trillion rials (about $7.33 billion) in loans were issued to the housing and construction sector.

“In addition, worth of 1.02 quadrillion rials (about $24.4 billion) loans were issued to the trade sector,” the report noted.

The CBI said the amount of loans were issued to the service sector was 1.79 quadrillion rials (about $42.5 billion).

At the same time, the loans worth 598 trillion rials (about $14.2 billion) were issued to all these sectors for the establishment of enterprises and facilities and worth 3.70 quadrillion rials (about $73.2 billion) as for working capital.

According to the report, the loans worth 127 trillion rials (about $3.04 billion) were issued to all the reporting sectors for repair work, worth 407 trillion rials (about $9.7 billion) for development and worth 524 trillion rials (about $2.5 billion) for the purchase of personal needs and products.

“Moreover, the loans worth 112 trillion rials (about $2.66 billion) were issued to all the listed sectors for purchase of housing and worth 16 trillion rials (about $5.15 billion) for other purposes,” the CBI said.