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National Development Fund of Iran Lends $4.9b in 3 Months

The major lenders were the state-owned Bank Sepah with $1 billion followed by Bank Pasargad and Mellat Bank – lending $700 million each
National Development Fund of Iran Lends $4.9b in 3 Months National Development Fund of Iran Lends $4.9b in 3 Months

The National Development Fund of Iran, the country’s sovereign wealth fund signed 15 agency contracts with banks to pay $5.8 billion in foreign currency loans during the first quarter of the current fiscal year (March 21- June 21).
Eleven contracts worth $4.9 billion came into effect by June 21, according to a NDFI report published on its website. 
In terms of payment by each agent bank, the major lenders were the state-owned Bank Sepah with $1 billion followed by Bank Pasargad and Mellat Bank – lending $700 million each. 
The minimum amounts came from Post Bank of Iran, Tose'e Ta'avon Bank and Middle East Bank with $200 million a piece.

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