BAKU, Azerbaijan, September 29
By Elnur Baghishov – Trend:
Iranian banks and financial institutions issued loans worth 1.02 quadrillion rials (about $24.4 billion) to trade 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, 45.8 trillion rials (about $1.09 billion) was issued for establishment of enterprises and facilities in Iran’s trade sector, the report said.
According to the report, the loans worth 417 trillion rials (about $9.93 billion) were issued to provide working capital in trade sector.
“In addition, 3.71 trillion rials (about $88.4 million) worth of loans were issued for repair work in this sector and worth 64.3 trillion rials (about $1.53 billion) to development projects,” the report added.
The CBI said that loans worth 493 trillion rials (about $11.7 billion) were issued to trade sector for purchase of personal needs (including equipment) and worth 3.33 trillion rials (about $79.4 million) for purchase of housing.
According to the report, 536 billion rials (about $12.7 million) worth of loans were 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.