BAKU, Azerbaijan, September 26. Iranian banks lent approximately 887 trillion rials (about $21.1 billion) in the agricultural sector of the country for the first five months of the current Iranian year (March 21 through August 22, 2023), Trend reports.
The loans were allocated for various purposes in the agricultural sector, such as:
- Working capital: 602 trillion rials (about $14.3 billion);
- Establishment of enterprises and cultivation of gardens and arable lands: 199 trillion rials (about $4.74 billion);
- Development work: approximately 60.5 trillion rials (about $1.44 billion);
- Self-employment: 20.6 trillion rials ($492 million);
- Purchase of housing: 2.2 trillion rials (about $52.5 million);
- Purchase of personal assets: approximately 1.6 trillion rials (about $38 million);
- Repairs: 9 billion rials (about $214,000).
In total, the Iranian banks issued loans worth 14.7 quadrillion rials (about $350 billion) in various economic sectors within the first 5 months of the current Iranian year.
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