BAKU, Azerbaijan, November 4. The loans extended by Iranian banks in the agricultural sector increased by 2.7 percent during seven months of the current Iranian year (from March 20 through October 21, 2024) compared to the same period of last year (March 21 through October 22, 2023).
The data obtained by Trend from the country's Central Bank shows that Iranian banks issued loans worth 1.53 quadrillion rials (about $3.46 billion) in the agricultural sector during the seven months of the current Iranian year (from March 20 through October 21, 2024). However, during the same period last year (from March 21 through October 22, 2023), the figure stood at 1.49 quadrillion rials (about $3.37 billion).
Furthermore, the statistics show that the agricultural sector received loans totaling 866 trillion rials, or roughly $1.96 billion, as working capital.
The statistics show that the agricultural sector issued loans worth 528 trillion rials (roughly $1.19 billion) to establish enterprises and construct orchards and farmland.
According to the information, Iran's agricultural sector received loans worth 94.2 trillion rials, or about $213 million, over the course of seven months.
Furthermore, statistics indicate that 35.1 trillion rials (about $79.4 million) of loans were granted for self-employment, 6.46 trillion rials (about $14.6 million) of consumer credit, 272 billion rials (about $615,000) for housing, and 229 billion rials (about $518,000) were granted for renovation works.
To note, Iranian banks issued loans worth about 28.3 quadrillion rials (about $63.9 billion) during the seven months of the current Iranian year. The loans extended by Iranian banks increased by 19.4 percent in seven months compared to last year.