Knowledge-Based Firms Borrowed $1.8b in H1

Banks and credit institutions gave 584.8 trillion rials ($1.79 billion) loans to knowledge-based companies from the beginning of fiscal year in March 21 to Sep 22, the Central Bank of Iran (CBI) said. 
The loans were given to 1,404 firms. The increase reflects the will of the banking sector to support the knowledge economy, the CBI website reported. The figure indicates 100.2% growth on last year.
Total outstanding loans to startups and knowledge-based companies was 889 trillion rials ($2.73 billion) up until Sep 22. Knowledge-based firms had a total of 7.39 trillion rials ($22.7 million) in bad loans by the said date. Stressed loans of such firms was in the region of 25 trillion rials ($76.9 million), the CBI said.