BAKU, Azerbaijan, February 15. Iranian banks lent 2.45 quadrillion rials (about $58.4 billion) in the agricultural sector for the first ten months of the current Iranian year (March 21, 2023 through January 20, 2024), Trend reports.
Data from Iran’s Central Bank shows that the loans were allocated for various purposes in the agricultural sector, such as:
- Working capital: 1.66 quadrillion rials (about $39.6 billion);
- Establishment of enterprises and cultivation of gardens and arable lands: about 575 trillion rials (about $13.7 billion);
- Development work: about 162 trillion rials (about $3.85 billion);
- Self-employment: 46.3 trillion rials ($1.1 billion);
- Purchase of personal assets: 5.14 trillion rials (about $122 million);
- Purchase of housing: 2.68 trillion rials (about $63.8 million);
- Repairs: 207 billion rials (about $4.93 million).
In total, the Iranian banks granted loans worth about 35.1 quadrillion rials (about $835 billion) in various economic sectors within the first ten months of the current Iranian year.
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