BAKU, Azerbaijan, August 14. The volume of loans provided by Iranian banks to the agricultural sector in the first four months of the current Iranian year (March 20 through July 21, 2024) increased by 2.7 percent compared to the same period last year (March 21 through July 22, 2023), Trend reports.
The statistics of the Central Bank of Iran indicate that this figure amounted to 694 trillion rials (about $1.72 billion) compared to 676 trillion rials (nearly $1.67 billion) for the same period last year (March 21 through July 22, 2023).
Loans amounting to 399 trillion rials (approximately $985 million) were provided as working capital in the agricultural sector.
Over the four months, loans amounting to 219 trillion rials (roughly $540 million) were issued for establishing agricultural enterprises, gardens, and agricultural lands.
For the development of the agricultural sector in Iran, a loan amounting to 50.8 trillion rials (nearly $125 million) was provided over four months.
In the agricultural sector, loans amounting to 23.4 trillion rials (approximately $57.9 million) were provided for self-employment, 1.85 trillion rials (about $4.6 million) for the purchase of personal vehicles, 152 billion rials (nearly $375,000) for housing purchases, and 147 billion rials (approximately $362,000) for repairs.
To note, in the first four months of the current Iranian year, Iranian banks provided loans totaling around 13.3 quadrillion rials (around $32.9 billion). Over four months, loans issued by Iranian banks increased by 18.3 percent compared to the same period last year (March 21 through July 22, 2023).
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