Iran’s Cooperatives Development Bank pays $570 million in loans
Azerbaijan, Baku, Apr. 22/ Trend F.Milad/
The Iranian Cooperatives Development Bank paid over 70 trillion rials (some $570 million) in loans to different economic sectors during the past calendar year, which ended on March 19, the Fars news agency reported.
The loans to the agriculture sector accounted for 31 percent of the paid facilities, bank's managing director Mashallah Azimi said.
The Iranian Constitution stipulates that the country's economy should consist of state, cooperative, and private sectors. Cooperative companies and enterprises concerned with production and distribution in urban and rural areas form the basis of the cooperative sector.