BAKU, Azerbaijan, December 12. The volume of loans provided by Iranian banks to startups increased by 46.3 percent during eight months of the current Iranian year (from March 20 through November 2024) compared to the same period of last year (from March 21 through November 21, 2023).
The data obtained by Trend from the country's Central Bank shows that 2,292 Iranian startups were granted loans worth 2.25 quadrillion rials (about $4.65 billion) during the eight months. The value of credit extended to 2,347 startups in the same period last year amounted to 1.54 quadrillion rials (about $3.17 billion).
Statistics show that Iran's state-owned banks extended loans to 958 startups worth 381 trillion rials (about $786 million) during eight months. This is 35.8 percent more than the same period last year.
During the same period last year, the volume of loans provided by state-owned banks amounted to about 281 trillion rials (about $579 million).
Moreover, the information indicates that Iran's non-state banks provided 1.87 quadrillion rials (about $3.86 billion) to 1,916 startups during the eight months. This is 48.6 percent more than the same period last year. In the same period last year, non-state banks provided 1.26 quadrillion rials (about $2.6 billion) worth of loans to startups.
To note, the Iranian Government pays special attention to providing loans to start-up companies in various fields, including energy, agriculture, and industry, to further unleash their potential.