TEHRAN- Iranian banking system has paid 22.964 quadrillion rials (over $86.1 billion) of facilities to domestic economic sectors in the first 10 months of the current Iranian calendar year (March 21, 2021-January 20, 2022), registering a 59.4-percent rise from the same period in the previous year, Mehr News Agency reported.

According to the data provided by the Central Bank of Iran (CBI), working capital loans paid to different economic sectors in the mentioned 10 months were above 15.205 quadrillion rials (about $57 billion), accounting for 66.3 percent of the total provided facilities.

During the said period, the country’s mining and industry sector received over 5.502 quadrillion rials (about $20.6 billion) in the form of working capital loans, accounting for 36.2 percent of the total such facilities.

In its latest report on the payment of facilities to various economic sectors, CBI emphasizes that in order to continue the payment of facilities to economic sectors it is necessary to consider inflation control strategies.

Iranian banks paid 20.195 quadrillion rials (over $75.7 billion) of facilities to domestic economic sectors in the first nine months of the current Iranian calendar year (March 21-December 21, 2021), which was also 59.5 percent more than the figure for the same period in the previous year.

Based on CBI data, working capital loans paid to different economic sectors in the mentioned nine months were above 13.424 quadrillion rials (about $50.37 billion), accounting for 66.5 percent of the total provided facilities.

Over the past three years, CBI has been collaborating with the Industry, Mining, and Trade Ministry for implementing a program based on which bank facilities are provided to small and medium-sized enterprises (SMEs) and semi-finished projects.

The mentioned facilities are mainly provided for renewing machinery, equipping production units, or completing semi-finished projects.

The mentioned program was kicked off in February 2019 and since then over 12,124 production units and SMEs have registered for receiving the mentioned loans.

EF/MA