BAKU, Azerbaijan, February 8. The value of loans provided by Iranian banks to local start-up companies in the country soared by 60 percent in the first ten months of the current Iranian year (March 21, 2023 through January 20, 2024), compared to the same period last year, Trend reports.
Data from the Central Bank of Iran shows that the country’s banks lent 2.02 quadrillion rials (about $48.1 billion) to 2,588 local start-up companies for 10 months.
Meanwhile, in the same period of the previous year, 1,879 start-ups received 1.26 quadrillion rials (about $30 billion) in loans from the country’s banks.
In 10 months, state banks have provided loans to 1,013 start-up companies worth 370 trillion rials (about $8.83 billion), representing a 93.8 percent growth from 191 trillion rials (about $4.55 billion) in the same period last year.
At the same time, private banks in Iran provided loans to 1,575 start-up companies worth 1.65 quadrillion rials (about $39.3 billion), showing an increase of 54 percent compared to 1.07 quadrillion rials (about $25.5 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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