...

Iranian banks issue big loans to agricultural sector

Finance Materials 27 January 2021 16:37
Iranian banks issue big loans to agricultural sector

BAKU, Azerbaijan, Jan. 27

By Elnur Baghishov – Trend:

The Iranian banks issued loans worth 841 trillion rials (about $20 billion) to the agricultural sector of the country, during the first nine months of the current Iranian year (March 20 through December 20, 2020), Trend reports citing the statistics of Central Bank of Iran (CBI).

According to the statistics, about 188 trillion rials (about $4.47 billion) worth of loans were issued for the establishment of enterprises in the agricultural sector, the planting of gardens and arable lands.

In addition, 551 trillion rials (about $13.1 billion) worth of loans were issued as working capital in the agricultural sector, the statistics said.

“The loans worth 4.12 trillion rials (about $98.1 million) were issued for repair operations in the agricultural sector of Iran over the nine months,” the statistics said.

According to the statistics, at the same time, 60.8 trillion rials (about $1.45 billion) worth of loans were issued for the development Iran's agricultural sector.

Moreover, 9.56 trillion rials (about $227 million) worth of loans were issued for the purchase of personal assets in the agricultural sector, 2.15 trillion rials (about $ 51.2 million) for the purchase of housing, and 25.1 trillion rials (about $599 million) for other purposes, the statistics said.

As reported, the Iranian banks issued loans worth a total of about 12.2 quadrillion rials (about $290 billion) in various sectors over the nine months. The number of issued loans increased by 94.8 percent compared to the same period last Iranian year.

Tags:
Latest

Latest