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Amount of loans issued to Iran's industrial and mining sectors announced

Finance Materials 28 January 2021 12:51
Amount of loans issued to Iran's industrial and mining sectors announced

BAKU, Azerbaijan, Jan. 28

By Elnur Baghishov – Trend:

The Iranian banks issued loans worth 3.62 quadrillion rials (about $86.2 billion) to the industrial and mining sectors in Iran during the first nine months of the current year (March 20 through December 20, 2020), Trend reports citing the statistics of Central Bank of Iran (CBI).

According to the statistics, about 599 trillion rials (about $14.2 billion) worth of loans was issued for the establishment of enterprises in the industrial and mining sectors over the reporting period.

“In addition, 2.7 quadrillion rials (about $64.3 billion) worth of loans were issued as working capital in these sectors,” the statistics said.

During 9 months, 36.8 trillion rials (about $877 million) worth of loans was issued for repair work in the industrial and mining sectors, the statistics said.

According to the statistics, at the same time, 227 trillion rials (about $5.4 billion) worth of loans was issued for the development of Iran's industrial and mining sectors.

In total, 43.7 trillion rials (about $1.04 billion) worth of loans was issued in Iran's industrial and mining sectors for the purchase of personal assets, 7.02 trillion rials (about $167 million) for the purchase of housing, and 2.24 trillion rials (about $53.3 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.

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