BAKU, Azerbaijan, May 14. The loans provided by banks to start-up companies in Iran increased by 52.2 percent in value terms in the last Iranian year (from March 21, 2023, through March 19, 2024) compared to the previous year (March 21, 2022, through March 20, 2023), the statistics of Iran's Central Bank said, Trend reports.
Last Iranian year, Iranian banks provided loans worth 2.7 quadrillion rials (about $64.3 billion) to 2,936 start-up companies.
However, in the previous year, Iran's banks extended loans worth 1.77 quadrillion rials (about $42.2 billion) to 2,113 start-up companies.
Moreover, Iranian state-owned banks extended loans worth 487 trillion rials (about $11.6 billion) to 1,144 start-up companies last year. The volume of loans granted by state banks to start-up companies increased by 91.9 percent compared to the previous year.
The private banks in Iran provided loans worth 2.21 quadrillion rials (about $52.7 billion) to 1,792 start-up companies last year.
To note, the Iranian government is focusing on providing loans to start-up companies in various fields, including energy, agriculture, and industry, to maximize the benefits of their potential.
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