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Iranian banks back up industrial, mining sectors with over $43B in loans

Finance Materials 17 June 2023 18:30 (UTC +04:00)
Iranian banks back up industrial, mining sectors with over $43B in loans
Elnur Baghishov
Elnur Baghishov
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BAKU, Azerbaijan, June 17. Iranian banks issued loans worth 1.82 quadrillion rials (about $43.4 billion) in the industrial and mining sectors of the country, during the first two months of the current Iranian year (March 21 through May 21, 2023) Trend reports.

Of the mentioned amount, approximately 266 trillion rials (about $6.32 billion) was issued for the establishment of enterprises in the industrial and mining sectors.

Also, approximately 1.5 quadrillion rials (about $35.7 billion) worth of loans were issued as working capital in these sectors.

Within 2 months, 47.7 trillion rials (about $1.13 billion) worth of loans were issued for the development of Iran's industrial and mining sectors.

In addition, 758 billion rials ($18 million) worth of loans were issued for self-employment in the industrial and mining sectors, and 4.45 trillion rials (about $107 million) for the purchase of housing.

At the same time, 335 billion rials (about $7.97 million) worth of loans were issued for repair work in the industrial and mining sectors, as well as 6.22 trillion rials (about $148 million) for the purchase of personal assets.

In total, the Iranian banks issued loans worth approximately 4.49 quadrillion rials (about $107 billion) in various economic sectors for 2 months.

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