Amount of loans issued for Iran's industry & mining sector up

BAKU, Azerbaijan, July 28 By Elnur Baghishov - Trend: Iran's banks and financial institutions allocated 739 trillion rials (about $17.6 billion) of loans to the country's industry and mining sector during the first three months of the current Iranian year (March 20-June 20, 2020), Trend reports referring to the Central Bank of Iran (CBI). According to the CBI report, loans worth 92.5 trillion rials (about $2.2 billion) were allocated for the establishment of facilities in industrial and mining sectors. The CBI said that 586 trillion rials (about $13.9 billion) worth of loans were allocated for the support of working capital in the industry and the mining sector. Some 5.9 trillion rials (about $140 million) were allocated for repairs in the sector, 47.1 trillion rials (about $1.12 billion) for development projects, 5.42 trillion rials (about $129 million) of loans were issued for the purchase of personal products (including equipment), while 1.27 trillion rials (about $30.3 million) were allocated for housing purchase within the sector. Over 220 billion rials (about $5.23 million) were issued for other matters within the sector, the report says. Iranian banks and financial institutions have issued loans worth a total of 2.24 quadrillion rials (about $53.5 billion) to various sectors during the first three months of current Iranian year (March 20-June 20, 2020). The amount of loans issued to various economic sectors in Iran increased by 50.5 percent during the first three months of current Iranian year (March 20-June 20, 2020) compared to the same period of the last Iranian year.