BAKU, Azerbaijan, December 14. The loans extended by Iranian banks to start-up companies increased by 69.3 percent in the eighth month of the current Iranian year (from October 22 through November 2024) compared to the same month of last year (from October 23 through November 21, 2023).
The data obtained by Trend from the country's Central Bank shows that Iranian banks extended loans to 834 companies worth 357 trillion rials (about $736 million) in the eighth month. The loans extended amounted to about 211 trillion rials (about $435 million) in the same month last year.
Meanwhile, state-owned banks extended loans to 259 startups worth 80.5 trillion rials (about $166 million) in the eighth month. The value of credit extended by state-owned banks to start-ups increased by 115 percent during the eighth month compared to the same month last year. In the same month last year, state-owned banks provided loans worth about 37.5 trillion rials (about $77.2 million).
Private banks extended loans worth about 277 trillion rials (about $570 million) to 685 startups in the eighth month. The amount of loans extended by private banks to startups increased by 59.5 percent during the eighth month compared to the same month last year. In the same month of last year, private banks extended loans worth 173 trillion rials (about $357 million) to startups.
To note, the Iranian government is focusing on providing loans to start-ups in various fields, including energy, agriculture, and industry, to further unleash their potential.