BAKU, Azerbaijan, January 6. The loans extended by Iranian banks in the agricultural sector increased by 12.2 percent during nine months of the current Iranian year (from March 20 through December 20, 2024) compared to the same period of last year (from March 21 through December 21, 2023).
The data obtained by Trend from the country's Central Bank shows that Iranian banks issued loans worth 2.2 quadrillion rials (about $3.84 billion) in the agricultural sector during the nine months of the current Iranian year (from March 20 through December 20, 2024). However, during the same period last year (from March 21 through December 21, 2023), the figure stood at 1.96 quadrillion rials (about $3.43 billion).
Furthermore, the statistics show that the agricultural sector received loans totaling 1.25 quadrillion rials, or roughly $2.18 billion, as working capital.
The statistics show that the agricultural sector issued loans worth 757 trillion rials (roughly $1.32 billion) to establish enterprises and construct orchards and farmland.
According to the information, Iran's agricultural sector received loans worth 123 trillion rials, or about $214 million, for nine months.
Furthermore, statistics indicate that 60.7 trillion rials (about $106 million) of loans were granted for self-employment, 8.12 trillion rials (about $14.2 million) of consumer credit, 272 billion rials (about $476,000) for housing, and 239 billion rials (about $418,000) were granted for renovation works.
To note, Iranian banks issued loans worth about 37.5 quadrillion rials (about $65.3 billion) during the nine months of the current Iranian year. The loans extended by Iranian banks increased by 18.3 percent in nine months compared to last year.