BAKU, Azerbaijan, December 5. The loans doled out by Iranian banks in the agricultural sector saw a jump of 10.8 percent over the eight-month stretch of the current Iranian year (from March 20 through October 21, 2024) when stacked against the same timeframe last year (from March 21 through October 22, 2023).
The data obtained by Trend from the country's Central Bank shows that Iranian banks extended loans to the agricultural sector worth 1.89 quadrillion rials (about $3.46 billion) during eight months of the current Iranian year (from March 20 through October 21, 2024). However, this figure amounted to 1.49 quadrillion rials (about $3.12 billion) during the same period last year (from March 21 through October 22, 2023).
According to statistics, 667 trillion rials (about $1.4 billion) worth of loans were issued to establish enterprises in the agricultural sector and build orchards and agricultural lands for eight months.
Furthermore, data indicates that Iran's agricultural sector received loans worth 108 trillion rials, or about $225 million, over the course of eight months.
The information also revealed that the agricultural sector received loans totaling approximately 48.6 trillion rials (about $102 million), 7.9 trillion rials (about $16.5 million) for self-employment, 272 billion rials (about $568,000) for housing, and 229 billion rials (about $478,000) for renovation.
To note, Iranian banks disbursed loans worth about 32.9 quadrillion rials (about $70 billion) during eight months of the current Iranian year. Iranian banks extended 19.2 percent more credit during the eight months compared to the same period last year.