Annual bank loans paid to knowledge-based firms up nearly 75%

April 29, 2020 - 13:49

TEHRAN – Iranian banking system paid 137.6 trillion rials (about $3.27 billion) of facilities to 1,108 knowledge-based companies in the past Iranian calendar year 1398 (ended on March 19), to register a 74.5 percent rise compared to the preceding year 1397.

As reported by IRNA, Bank Mellat accounted for the biggest share of the paid facilities with 28.2 trillion rials (about $670 million), followed by Melli Bank with 21.2 trillion rials (about $504 million) of offered facilities.

Back in January, CBI announced that 83 trillion rials (nearly $1.97 billion) of facilities were offered to more than 870 knowledge-based companies across the country in the first 11 months of the past calendar year (March, 21 2019-January, 21 2020).

Iran has developed plans to support and empower knowledge-based companies as a step forward to materialize the goal of a surge in production, as the economy is grappling with the U.S. sanctions.

According to Rouhollah Zolfaghari, deputy head of Innovation and Prosperity Fund, over 63 trillion rials (nearly $1.5 billion) is proposed to be allocated to support the knowledge-based companies leaping for production.

In the coming year, detailed plans have been prepared to support knowledge-based companies.

EF/MA

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