BAKU, Azerbaijan, Nov. 23
By Elnur Baghishov – Trend:
A total of 590 trillion rials (about $14 billion) worth of loans are estimated to be issued into the agricultural sector in Iran in the current Iranian year (from March 20, 2019, through March 21, 2021), said Rouhollah Khodarahmi, the Chairman and Managing Director of Bank Keshavarzi Iran, Trend reports citing IRNA.
The director stressed that this is an increase of 12 percent compared to the same period last Iranian year. So, this figure was about 530 trillion rials (about $12.6 billion) in the same period last Iranian year.
He added that the main purpose of the Bank Keshavarzi Iran is to support farmers and agricultural producers.
Khodarahmi noted that about 287 trillion rials (about $6.82 billion) worth of loans were issued during the first six months of the current Iranian year (from March 20 through September 21, 2020). This is about 50 percent of the loans estimated for the current Iranian year.
According to the chairman, at the same time, the Bank Keshavarzi Iran supports farmers to purchase agricultural machinery. Thus, 80 percent of the cost of purchased machinery is provided by the bank and 20 percent is paid by farmers.
“The Bank Keshavarzi Iran provided loans worth 13 trillion rials (about $309 million) for the purchase of agricultural machinery within the first six months of the current Iranian year. While in the last Iranian year (from March 21, 2019, to March 20, 2020), a total of 18 trillion rials (about $428 million) worth of loans were issued,” he said.
Khodarahmi also said that furthermore, 16 trillion rials (about $380 million) worth of loans were issued for the development of greenhouses in Iran’s agricultural sector over the past six months. However, a total of 20 trillion rials (about $476 million) worth of loans were issued in the last Iranian year.