Banks Lend $780m to Tech Firms

Iranian banks have lent 191 trillion rials ($779.6 million) to 763 startups and knowledge-based companies during the first nine months of the current fiscal year (March 2020).
Based on a recent CBI report, the amount has increased by 128% compared with the same period of last year, Borna reported.
The data show Bank Saderat Iran has loaned 35.3 trillion rials ($144.9 million) in the nine months, the highest amount lent by domestic banks. Bank Mellat with 33.2 trillion rials ($135.5 million) and Bank Melli with 30.5 trillion rials ($124.5 million) followed.
The months ending Dec. 20 and Sept. 21, 2020, were the busiest periods for the banks, with 37.7 trillion rials ($153.9 million) and 30.1 trillion rials ($122.8 million) paid as loans respectively.
Banks paid the least amount, equal to 6.5 trillion rials ($26.57 million), in the first month of the current Iranian year that ended on April 19, 2020.
CBI chief Abdolnasser Hemmati earlier said Iran has over 10,000 startups and knowledge-based companies and if they receive enough support and attention, they will yield valuable results.