BAKU, Azerbaijan, September 29
By Elnur Baghishov – Trend:
Iranian banks and financial institutions issued loans worth 308 trillion rials (about $7.33 billion) to housing and construction 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, 43.6 trillion rials (about $1.04 billion) was issued for establishment of enterprises and facilities in Iran’s housing and construction sector, the report said.
According to the report, the loans worth 73.8 trillion rials (about $1.76 billion) were issued to provide working capital in housing and construction sector.
“In addition, 82.9 trillion rials (about $1.97 billion) worth of loans were issued to repair work in this sector and worth 10.8 trillion rials (about $257 million) to development projects,” the report added.
The CBI said that loans worth 52 billion rials (about $1.23 million) were issued to housing and construction sector for purchase of personal needs (including equipment) and worth 94 trillion rials (about $2.23 billion) for purchase of housing.
According to the report, 3.01 trillion rials (about $71.7 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.