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Iran’s CBI announces amount of loans issued for agricultural sector

Finance Materials 27 December 2021 16:56 (UTC +04:00)
Iran’s CBI announces amount of loans issued for agricultural sector

BAKU, Azerbaijan, Dec. 27

By Elnur Baghishov – Trend:

Iranian banks issued loans worth 1.2 quadrillion rials (about $28.8 billion) in the agricultural sector of the country, during the first eight months of the current Iranian year (from March 21 through November 21, 2021), Trend reports via the statistics of the Central Bank of Iran (CBI).

According to the statistics, about 245 trillion rials (about $5.83 billion) worth of loans was issued for the establishment of enterprises and the planting of gardens, and arable lands in the agricultural sector.

In addition, 824 trillion rials (about $19.6 billion) worth of loans was issued as working capital in the agricultural sector.

"The loans worth 5.39 trillion rials (about $128 million) were issued for repair work in the agricultural sector of Iran within 8 months," the statistics said.

According to the statistics, at the same time, 76.1 trillion rials (about $1.81 billion) worth of loans was issued for the development of Iran's agricultural sector.

Moreover, 17 trillion rials (about $405 million) worth of loans were issued for the purchase of personal assets in the agricultural sector, 1.5 trillion rials (about 35.7 million) for the purchase of housing, and 38.5 trillion rials (about $917 million) for other purposes.

As reported, the Iranian banks issued loans worth about 17.3 quadrillion rials (about $410 billion) in various economic sectors in the first eight months of the current Iranian year. The figure stood at 6.43 quadrillion rials (about $149 billion) in the same period last Iranian year.

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