BAKU, Azerbaijan, September 29
By Elnur Baghishov – Trend:
Iranian banks and financial institutions issued loans worth 375 trillion rials (about $8.92 billion) to the agricultural sector 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).
Of this amount, 64.9 trillion rials (about $1.54 billion) were issued for the establishment of enterprises and facilities in Iran’s agricultural sector, the report said.
According to the report, the loans worth 267 trillion rials (about $6.36 billion) were issued to provide working capital in the agriculture sector.
“In addition, 1.57 trillion rials (about $37.5 million) worth of loans were issued to repair work in this sector and worth 25.9 trillion rials (about $617 million) to development projects,” the report added.
The CBI said that loans worth 3.58 trillion rials (about $85.2 million) were issued to the agricultural sector for the purchase of personal needs (including equipment) and worth 721 billion rials (about $17.1 million) for the purchase of housing.
According to the report, 11.3 trillion rials (about $270 million) worth of loans was issued to this sector for other purposes.
In total, 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). This amount increased by 71 percent compared to the same period last Iranian year.