Iran sees growth in loans to start-up companies

Iran Materials 20 June 2024 11:12 (UTC +04:00)
Elnur Baghishov
Elnur Baghishov
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BAKU, Azerbaijan, June 20. The volume of loans granted by Iranian banks to start-up companies increased by 135 percent in the second month of the current Iranian year (from April 20 through May 20, 2024) compared to the same period last year (from April 21 through May 21, 2023), the statistics of Iran's Central Bank said, Trend reports.

According to the statistics, during the second month, 730 startup companies in Iran received loans worth about 269 trillion rials (about $708 million). The value of loans granted to 575 startup companies in the same period last year was about 115 trillion rials (about $301 million).

The statistics indicate that in the second month, Iran's state-owned banks issued loans worth 57.2 trillion rials (about $151 million) to 233 start-up companies. This is 22.8 percent more than the same month last year. The value of credit extended by state-owned banks in the same month last year was 26 trillion rials (about $68.6 million).

The information notes that Iran's non-state banks invested about 212 trillion rials (about $557 million) in 663 startup companies during the second month. This is 139 percent more than in the same month last year. During the same period last year, non-government banks issued loans worth 88.4 trillion rials (about $233 million) to startup companies.

To note, the Iranian government pays special attention to providing loans to start-up companies in various fields, including energy, agriculture, and industry, to maximize the benefits of their potential.

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