BAKU, Azerbaijan, February 11. The overall value of loans granted by Iranian banks to local start-up companies grew by 76.3 percent in the 10th month of the current Iranian year (December 22, 2023 through January 20, 2024), compared to the same month last year, Trend reports.
Data from Iran’s Central Bank shows that Iranian banks issued loans worth 196 trillion rials (about $4.7 billion) to 840 start-up companies in the specified period.
In the same month of the previous Iranian year (December 22, 2022 through January 20, 2023), the country’s banks provided loans to 594 start-up companies worth 111 trillion rials (about $2.65 billion).
During 10th month, Iranian state banks lent around 32.5 trillion rials (about $773 million) to 300 start-up companies, representing a 40.2-percent increase From 23.2 trillion rials (about $551 million) in the same month last year.
Meanwhile, Iran's private banks lent approximately 164 trillion rials (about $3.89 billion) to 540 startup companies for the 10th month, showing an increase of 79.2 percent compared to 88 trillion rials (about $2.1 billion) in the same month last 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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