Bank loans to economic sectors increase by more than 59%
TEHRAN- The Iranian banking system has disbursed 17.274 billion rials (over 58.1 billion dollars) in facilities to national economic sectors during the first eight months of the current Iranian calendar year (March 21-November 21), registering an increase of 59.2% compared to the same period the previous year, reported IRNA.
According to data provided by the Central Bank of Iran (CBI), the country’s banking system paid 11.481 billion rials (about $ 38.65 billion) in facilities to various economic sectors in the first eight months of the year. last year.
As reported, working capital loans disbursed to different economic sectors in the mentioned eight months exceeded R 11.48 billion (approximately $ 38.6 billion), accounting for 66.5% of the total facilities provided.
During the said period, the mining and industrial sector of the country received more than 4.069 billion rials (about 13.7 billion dollars) in the form of working capital loans, representing 35.4% of the total of these facilities.
In November, the CBI announced that 14.828 quadrillion rials (over $ 49.92 billion) of facilities had been paid to domestic economic sectors in the first seven months of the current Iranian calendar year (March 21-22). October), to record a rate of 58.5% increase over the same period of the previous year.
According to CBI, the country’s banking system offered 18.989 billion rials (approximately $ 63.93 billion) in facilities to domestic economic sectors in the previous Iranian calendar year of 1399 (ended March 20), 94.8 % more than the figure for the previous year.
CBI has defined production support as one of its main plans over the past two years.
Former CBI Governor Abdolnaser Hemmati has repeatedly stressed that supporting production units to make production thrive is the top priority of the country’s banking system.
In early May 2019, Hemmati presented the CBI’s plans to neutralize or mitigate the impact of US sanctions on the country’s economy and mentioned the provision of liquidity and working capital to maintain and boost domestic production as one of these plans.
CBI’s plans take two main approaches, one of which is to secure the financing of production activities and also to provide the necessary working capital for these activities.
EF / MA