BAKU, Azerbaijan, Mar. 17
By Elnur Baghishov – Trend:
Banks in Iran issued loans worth 914 trillion rials (about $21.7 billion) to the housing and construction sector in Iran during the first 11 months of the current year (from March 20, 2020 through February 18, 2021), Trend reports citing the statistics of Central Bank of Iran (CBI).
According to the statistics, about 192 trillion rials (about $4.58 billion) was issued for construction work in housing and construction sector within 11 months.
“In addition, Iranian banks issued loans worth 285 trillion rials (about $6.78 billion) as working capital in this sector,” the statistics said.
Over the 11 months, 194 trillion rials (about $4.62 billion) was issued for repair work and 31.5 trillion rials (about $751 million) for development work in the housing and construction sector, the statistics said.
Furthermore, Iranian banks issued loans worth 406 billion rials (about $9.6 million) for the purchase of personal assets in the housing and construction sector, 201 trillion rials (about $4.79 billion) for the purchase of housing and 9.04 trillion rials (about $215 million) for other purposes.
As reported, Iranian banks issued loans worth a total of about 16 quadrillion rials (about $382 billion) in various sectors over the 11 months. This an increase of 96.2 percent compared to the same period last Iranian year.