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$224m in Industrial, Mining Loans Granted Over 16 Months

$224m in Industrial, Mining Loans Granted Over 16 Months$224m in Industrial, Mining Loans Granted Over 16 Months

A total of 52,740 billion rials ($224 million) in loans were granted to industrial and mining enterprises over the past 16 months, data provided by the Ministry of Industries, Mining and Trade show.
A total of 736 loans worth 40,912 billion rials ($174 million) were given during the last Iranian year (March 2019-20).
During the first four months of the current fiscal year, 187 loans worth 11,830 billion rials (over $50 million) were paid to industrial and mining businesses. 
Fifteen percent of these 932 loans were invested in fixed capital and 85% were spent on working capital, IRNA reported. 

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