Business And Markets

Knowledge-Based Firms Borrow $860m

Knowledge-Based Firms Borrow $860m Knowledge-Based Firms Borrow $860m

Banks and credit institutions lent 137.6 trillion rials ($860 million) to 1,108 knowledge-based companies in the last fiscal year that ended on March 19. 
The figures indicate 74.5% hike on a year-year basis, according to a press release posted on the Central Bank of Iran website. Each company on average borrowed 124.2 billion rials ($777,500).  
Three banks led the loan initiative. The privatized Bank Mellat and Bank Saderat Iran, and state-owned Bank Melli Iran together accounted for 43% of the loans.


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