BAKU, Azerbaijan, Jan. 27
By Elnur Baghishov - Trend:
Iran's banks and financial institutions allocated $51.2 billion of loans to the service sector of the country in the first nine months (from March 21 to Dec. 21, 2019) of the current Iranian year, Trend reports referring to Central Bank of Iran (CBI).
According to the CBI report, loans of $6.4 billion were allocated for the establishment of facilities in the service sector, and $27.3 billion of loans were allocated for the support of working capital in the service sector.
Moreover, $1.57 billion were allocated for repairs in the sector and $5.02 billion for development projects.
CBI noted that $3.6 billion of loans were issued for the purchase of various items (including equipment), while $686 million were allocated for housing purchase.
Over $6.4 billion were issued for other products within the service sector.
During the nine months (from March 21 to Dec. 21, 2019) of this Iranian year, the amount of loans issued to various economic sectors in Iran increased by 29.8 percent compared to the same period last year.
Iranian banks and financial institutions have issued loans worth a total of $149.1 billion to various sectors over the nine months.