Amount of loans issued for Iran's industry & mining sector up

Amount of loans issued for Iran's industry & mining sector up

BAKU, Azerbaijan, Jan. 27

By Elnur Baghishov - Trend:

Iran's banks and financial institutions allocated $45.3 billion of loans to the country's industry and mining sector in the first nine months (from March 21 to Dec. 21, 2019) of the current Iranian year, Trend reports referring to the Central Bank of Iran (CBI).

According to the CBI report, loans of $5.1 billion were allocated for the establishment of facilities in industrial and mining sectors.

CBI said that $32.3 billion worth of loans were allocated for the support of working capital in the industry and mining sector.

Moreover, $246 million were allocated for repairs in the sector and $6.13 billion for development projects.

CBI notes that $955 million of loans were issued for the purchase of personal products (including equipment), while $247.7 million were allocated for housing purchase within the sector.

Over $247.1 million were issued for other matters within the sector, the report says.

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.

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