BAKU, Azerbaijan, June 15. The volume of loans granted by Iranian banks to start-up companies increased by 101 percent during two months of the current Iranian year (from March 20 through May 20, 2024) compared to the same period last year (from March 21 through May 21, 2023), the statistics of Iran's Central Bank said, Trend reports.
According to the statistics, during the past two months, 928 startup companies in Iran received loans worth about 389 trillion rials (about $1.02 billion). The value of loans granted to 738 startup companies in the same period last year was about 194 trillion rials (about $510 million).
The statistics indicate that Iran's state-owned banks issued loans worth about 66 trillion rials (about $174 million) to 472 start-up companies during the 2-month period. This is an 83.6 percent increase compared to the same period last year. During the same period last year, the value of credit extended by state-owned banks amounted to 35.9 trillion rials (about $94.5 million).
Furthermore, the information notes that Iran's non-state banks have lent 323 trillion rials (about $850 million) to 663 start-up companies during the past two months. This is 105 percent more than the same period last year. During the same period last year, non-state banks extended loans to start-up companies worth about 158 trillion rials (about $415 million).
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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