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

Finance Materials 16 March 2022 16:07 (UTC +04:00)
Iran’s CBI discloses amount of loans issued for agricultural sector
Elnur Baghishov
Elnur Baghishov
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BAKU, Azerbaijan, March 16

Trend:

Iranian banks issued loans worth 1.76 quadrillion rials (about $42 billion) in the agricultural sector of the country, during the first 11 months of the current Iranian year (from March 21, 2021, through February 19, 2022), Trend reports via the statistics of Central Bank of Iran (CBI).

According to the statistics, about 335 trillion rials (about $7.97 billion) worth of loans were issued for the establishment of enterprises and the planting of gardens, and arable lands in the agricultural sector.

In addition, 1.23 quadrillion rials (about $27.3 billion) worth of loans were issued as working capital in the agricultural sector.

"The loans worth 6.54 trillion rials (about $155 million) were issued for repair work in the agricultural sector of Iran within 11 months," the statistics said.

According to the statistics, at the same time, 120 trillion rials (about $2.85 billion) worth of loans were issued for the development of Iran's agricultural sector.

Moreover, 22.6 trillion rials (about $538 million) worth of loans were issued for the purchase of personal assets in the agricultural sector, 2.41 trillion rials (about 57.4 million) for the purchase of housing, and 54 trillion rials (about $1.28 billion) for other purposes.

The Iranian banks issued loans worth about 25.4 quadrillion rials (about $606 billion) in various economic sectors in the first 11 months of the current Iranian year. The figure stood at 9 quadrillion rials (about $215 billion) in the same period last Iranian year.

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