Bank loans

Bank loans to economic sectors increase by almost 55%

TEHRAN – Iran’s banking system has disbursed 25.433 quadrillion rials (over $97.819 billion) in facilities to domestic economic sectors in the first 11 months of the current Iranian calendar year (March 21, 2021-February 19, 2022), registering an increase of 54.9% from the same period of the previous year.

According to data provided by the Central Bank of Iran (CBI), working capital loans disbursed to different economic sectors in the mentioned 11 months were over 16.782 quadrillion rials (about $64.546 billion), or 66% of the total facilities provided.

During the said period, the country’s mining and industrial sector received more than 7.766 quadrillion rials (about $29.869 billion) in working capital loans, accounting for 79.2 percent of the total for such facilities.

In its latest report on the payment of facilities to different economic sectors, the CBI points out that to continue the payment of facilities to economic sectors, it is necessary to consider inflation control strategies.

Over the past three years, CBI has worked with the Ministry of Industry, Mines and Trade to implement a program based on which banking facilities are provided to small and medium-sized enterprises (SMEs) and semi- -finish.

Said installations are mainly intended for the renewal of machines, the equipment of production units or the realization of semi-finished projects.

The mentioned program was launched in February 2019.

MOM