BAKU, Azerbaijan, December 20. The value of loans provided by Iranian banks to local start-up companies in the country increased by 71.8 percent in the first eight months of the current Iranian year (March 21 through November 21, 2023), compared to the same period last year, Trend reports.
According to the data from Iran’s Central Bank, the country’s banks lent 1.54 quadrillion rials (about $36.7 billion) to 2,347 local start-up companies within 8 months.
Meanwhile, in the same period the previous year, Iranian start-ups received 897 trillion rials (about $21.4 billion) in loans from the country’s banks.
Over the course of eight months, state banks have provided loans to 889 start-up companies worth about 281 trillion rials (about $6.69 billion), representing a 98.9-percent growth from 141 trillion rials (about $3.36 billion) in the same period last year.
At the same time, private banks in Iran provided loans to 1,458 start-up companies worth 1.26 quadrillion rials (about $30 billion), showing an increase of 66.7 percent compared to 756 trillion rials (about $18 billion) in the same period the previous Iranian year.
The Iranian government is focusing on providing loans to start-up companies in various fields, including energy, agriculture and industry, in order to benefit more from their potential.
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