BAKU, Azerbaijan, Jan. 27
By Elnur Baghishov - Trend:
Iran's banks and financial institutions allocated $10.9 billion of loans to the country's housing and construction 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 $1.6 billion were allocated for the establishment of facilities in the sector.
CBI notes that $2.6 billion of loans were allocated for the support of working capital in the housing and construction sector.
Moreover, $2.1 billion were allocated for repairs in the sector and $798 million for development projects.
CBI notes that $45.5 million of loans were issued for the purchase of various items (including equipment), while $3.5 billion were allocated for real estate purchase within the sector.
Loans in the amount of $113 million were issued for other purposes 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.