Iran's ministry shares financial data on backing its industrial, mining enterprises (Exclusive)

Iran's ministry shares financial data on backing its industrial, mining enterprises (Exclusive)

BAKU, Azerbaijan, Oct.19

By Elnur Baghishov, Movlud Suleymanov – Trend:

Some 1,525 industrial and mining enterprises in Iran received loans worth 76 trillion rials (about $1.81 billion) during the first five months of the current Iranian year (March 21 through August 22, 2021), said the report of Iranian Ministry of Industry, Mine and Trade obtained by Trend.

According to the report, the loans were issued by the Ministry of Industry, Mine and Trade of Iran for financial support (to continue activity of enterprises, pay salaries, etc.) and to increase manufacturing (construction of new facilities, increase activity of enterprises).

Thus, Iran has provided loans worth 24.4 trillion rials (about $581 million) in the form of financial support to industrial and mining enterprises during the mentioned period.

In addition, Iranian Ministry of Industry, Mine and Trade has provided loans worth 51.6 trillion rials (about $1.23 billion) to increase manufacturing of 1,387 industrial and mining enterprises in the country.

These loans were provided to enterprises both as fixed capital and working capital.

Over five months, 1,030 industrial and mining enterprises in Iran have received loans worth 37 trillion rials (about $882 million), said the report.

So, Iran has provided loans worth 2.32 trillion rials (about $55.1 million) to 144 industrial and mining enterprises as fixed capital, and worth 34.7 trillion rials (about $826 million) to 886 industrial and mining enterprises as working capital in 5 months.

"Moreover, 38.9 trillion rials (about $928 million) worth of loans were issued to 495 industrial and mining enterprises in the country's industrial parks," said the report.

Iran has provided loans worth 2.6 trillion rials (about $62.2 million) to 62 industrial enterprises as fixed capital and worth 36.3 trillion rials (about $866 million) to 433 industrial and mining enterprises as working capital in the industrial parks.

Iranian banks issued loans worth about 9 quadrillion rials (about $214 billion) in various economic sectors in the country during the first five months of the current Iranian year (from March 21 through August 22, 2021).

In the same period of the Iranian year the figure stood at 3.05 quadrillion rials (about $72.7 billion).

The banks issued 620 trillion rials (about $14.8 billion) worth of loans in the agricultural sector in the mentioned period. Moreover, the banks issued loans worth 2.75 quadrillion rials (about $65.6 billion) in Iran's industrial and mining sectors over the mentioned five months.

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