BAKU, Azerbaijan, January 13. The value of loans extended by banks to startups in Iran increased by 43.4 percent during nine months of the current Iranian year (from March 20 through December 2024) compared to the same period last year (from March 21 through December 21, 2023).
The data obtained by Trend from the country's Central Bank shows that 2,419 startups in Iran obtained loans amounting to 2.57 quadrillion rials (about $4.45 billion) during the nine months.
The Iranian banks extended loans to 776 startups worth about 316 trillion rials (about $546 million) during the ninth month (from November 21 through December 2024). This is 27.6 percent more than the same month last year (from November 22 through December 21, 2023).
Meanwhile, the Iranian government is focusing on extending loans to startups to maximize the potential of companies in various sectors, including energy, agriculture, and industry.
To note, Iranian banks extended loans worth about 37.5 quadrillion rials (about $65.3 billion) during the nine months of the current Iranian year. The credit extended by Iranian banks increased by 18.3 percent during the nine months compared to the same period last year.