BAKU, Azerbaijan, December 21. The overall value of loans granted by Iranian banks to local start-up companies increased by 93.2 percent in the 8th month of the current Iranian year (October 23 through November 21, 2023), compared to the same month last year, Trend reports.
As reflected in the data of Central Bank of Iran (CBI), Iranian banks issued loans worth around 211 trillion rials (about $5.02 billion) to 782 start-up companies during the 8th month.
In the same month of the previous Iranian year, the country’s banks provided loans to 597 start-up companies worth 109 trillion rials (about $2.6billion).
Over the eighth month, Iran's state banks gave 37.5 trillion rials (about $892 million) worth of loans to 257 start-up companies, which is 48.5 percent more than 25.2 trillion rials (about $600 million) in the same month last year.
At the same time, Iran's non-state banks provided loans worth 173 trillion rials (about $4.13 billion) to 525 startup companies for the reporting month, showing an increase of 107 percent compared to 83.9 trillion rials (about $2 billion) in the same month last 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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