BAKU, Azerbaijan, December 28. Loans issued by Keshavarzi Bank’s East Azerbaijan branch in the northwestern region of Iran during the nine months of the current Iranian year (from March 20 through December 20, 2024) increased by 19 percent compared to the same period last year (from March 21 through December 21, 2023), Director of the East Azerbaijan branch of Keshavarzi Bank, Javad Samadi told reporters, Trend reports.
According to Samadi, Keshavarzi Bank disbursed loans totaling 39 trillion rials (about $68.4 million) in East Azerbaijan Province during the nine months.
He added that a significant portion of these loans, amounting to 10 trillion rials (about $17.5 million), was allocated for the purchase of agricultural machinery and equipment.
The bank official also noted that the province's agricultural sector received loans totaling 6.32 trillion rials, or roughly $11 million.
“Keshavarzi Bank has issued loans totaling 5 trillion rials [about $8.8 million] to support agricultural activities, primarily focused on grain production, significantly contributing to the food security of the province,” Samadi said.
He further noted that Keshavarzi Bank provided loans amounting to 4.7 trillion rials (about $8.25 million) for the livestock sector during the reporting period.
The bank official added that loans worth 5 trillion rials (about $8.8 million) were allocated to support greenhouse cultivation and reduce water consumption in the region.
Samadi also emphasized the provision of 1.73 trillion rials, or roughly $3.04 million, to support horticulture development and increase fruit exports from the province.
In addition, he mentioned that Keshavarzi Bank issued loans totaling 6.03 trillion rials (about $10.6 million) to other sectors within the province’s agricultural industry.
To note, Keshavarzi Bank offers a wide range of services aimed at enhancing agricultural and food production, contributing to the overall goal of food security in Iran.