BAKU, Azerbaijan, April 28
By Elnur Baghishov - Trend
Iran's banks and financial institutions allocated $16.3 billion of loans to the country's housing and construction sector in the last Iranian year (from March 21, 2019 through March 20, 2020), Trend reports referring to the Central Bank of Iran (CBI).
According to the CBI report, loans of $2.32 billion was allocated for the establishment of facilities in the sector, and $4.05 billion of loans was allocated for the support of working capital in the housing and construction sector.
Furthermore, $3.43 billion was allocated for repairs in the sector and $952 million - for development projects.
CBI noted that $46.5 million of loans were issued for the purchase of various items including equipment, while $5.36 billion was allocated for real estate purchase within the sector.
Loans in the amount of $181 million were issued for other purposes within the sector, the report says.
During the last Iranian year, the amount of loans issued to various economic sectors in Iran increased by 26 percent compared to the same period preceding year (from March 21, 2018 to March 21, 2019).
Iranian banks and financial institutions have issued loans worth a total of $232 billion to various sectors in the last Iranian year.