BAKU, Azerbaijan, May 27. The volume of loans granted by Iranian banks to start-up companies increased by 46.1 percent in the first month of the current Iranian year (from March 20 through April 19, 2024) compared to the same month of last year (from March 21 through April 20, 2023), the statistics of Iran's Central Bank said, Trend reports.
According to the statistics, 396 startup companies in Iran received loans worth about 104 trillion rials (about $2.47 billion) in the first month. In the same month last year, the value of loans granted to 360 startup companies amounted to 71 trillion rials (about $1.69 billion).
The information shows that Iran's state-owned banks issued loans worth 8.09 trillion rials (about $193 million) to 49 start-up companies in the first month. This is 11 percent less compared to the same month last year. In the same month of last year, the value of credit extended by state-owned banks was about 9.1 trillion rials (about $217 million).
Furthermore, statistics indicate that Iran's non-government banks provided 95.8 trillion rials (about $2.28 billion) to 347 start-up companies in the first month. This is 54.5 percent more than the same period last year. During the same month of last year, non-government banks extended loans to start-up companies worth about 62 trillion rials (about $1.48 billion).
To note, the Iranian government is focusing on providing loans to start-ups in various fields, including energy, agriculture, and industry, to maximize the benefits of their potential.
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