BAKU, Azerbaijan, January 10. The value of loans provided by Iranian banks to local start-up companies in the country soared by 58.5 percent in the first nine months of the current Iranian year (March 21 through December 21, 2023), compared to the same period last year, Trend reports.
Data from the Central Bank of Iran shows that the country’s banks lent approximately 1.8 quadrillion rials (about $42.7 billion) to 2,465 local start-up companies for nine months.
Meanwhile, in the same period of the previous year, 1,792 start-ups received 1.13 quadrillion rials (about $27 billion) in loans from the country’s banks.
In nine months, state banks have provided loans to 950 start-up companies worth 330 trillion rials (about $7.86 billion), representing a 99.4 percent growth from nearly 166 trillion rials (about $3.94 billion) in the same period last year.
At the same time, private banks in Iran provided loans to 1,515 start-up companies worth around 1.47 quadrillion rials (about $34.9 billion), showing an increase of 51.5 percent compared to 967 trillion rials (about $23 billion) in the same period the previous Iranian year.
The Iranian government is focusing on providing loans to start-up companies in various fields, including energy, agriculture, and industry, in order to benefit more from their potential.
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