BAKU, Azerbaijan, September 10. Startup lending in Iran increased 63 percent during the four months of the current Iranian year (from March 20 through July 21, 2024) compared to the same period of last year (from March 21 through July 22, 2023), the statistics of the Iranian Central Bank said, Trend reports.
Iranian banks extended loans worth 927 trillion rials (about $2.18 billion) to startup companies within four months.
However, Iranian banks extended 2.7 quadrillion rials (about $6.34 billion) worth of loans to startups during the last Iranian year (from March 21, 2023 through March 19, 2024). The loan issued increased by 52.2 percent compared to the previous year (from March 21, 2022 through March 20, 2023).
To note, the Iranian government is focusing on providing loans to these companies to maximize the potential of start-ups in various sectors, including energy, agriculture, and industry.
