BAKU, Azerbaijan, March 11. The loans extended by Iranian banks to start-up companies in the first 11 months of the current Iranian year (from March 21, 2023 through February 19, 2024) increased by 61.1 percent compared to the same period of last year, the statistics of Iran's Central Bank says, Trend reports.
Around 2,727 startups in Iran received loans worth 2.29 quadrillion rials (about $54.5 billion) in the first 11 months. Iranian banks provided loans to 1,964 startups worth 1.42 quadrillion rials (about $33.9 billion) in the same period last year.
State-owned banks provided startups with loans worth 406 trillion rials (about $9.67 billion) to 1,061 startups in the first 11 months. This is an 88.2 percent increase compared to the same period last year. In the same period last year, state-owned banks provided loans worth about 216 trillion rials (about $5.14 billion) to start-ups.
Non-state banks extended loans to 1,666 start-ups worth 1.88 quadrillion rials (about $44.9 billion) in the first 11 months. The loan issued grew by 56.2 percent compared to the same period last year. During the same period last year, non-state banks extended loans worth 1.2 quadrillion rials (about $28.7 billion) to startups.
To note, the Iranian government is focusing on providing loans to these companies to maximize the potential of startups in various fields, including energy, agriculture, and industry.
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