Bank of Industry and Mine Allocated $6.8b to Industries

Bank of Industry and Mine has allocated 253 trillion rials ($6.8 billion) in loans to 1,427 industrial projects during the four years of the incumbent administration (started August 2013). These loans helped employ 24,262 people and caused a market boom in different parts of the country, especially in underprivileged provinces, IRNA reported. The bank also opened letters of credit worth more than $9 billion for 889 industrial projects. Loans amounting to 667 trillion rials ($17.8 billion) were approved for 12,737 industrial projects by the banking system during the tenure of President Hassan Rouhani (2013-17).