News ID: 252952
Published: 0252 GMT May 17, 2019

Vice president: NDF to offer $10b to export-oriented projects

Vice president: NDF to offer $10b to export-oriented projects

Some $10 billion in foreign currency facilities will be made available from the resources of Iran’s National Development Fund (NDF) in the year to March 2020 for investment in domestic projects, said the fund’s vice president.

Alireza Saleh stressed that the investments are required to be made in export-oriented projects, IRNA wrote.

As stipulated in the NDF’s articles of association, he said, 80 percent of the fund’s resources must be allocated to the country’s private sector.

He described as almost unique worldwide the 3.5-percent interest rate of the fund’s facilities offered to normal investors.

Saleh added in addition, the government is prohibited from using the NDF’s facilities based on the fund’s articles of association.

“Public institutions can use only up to 20 percent of the fund’s resources.”

He said at present, 30 percent of the country’s oil revenue is deposited in the NDF which is offered to the domestic private sector for investment.

Among Iranian provinces, Hamedan, in western Iran, has great potentials for attracting investors, Saleh noted.

 

   
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