Business And Markets

EGFI Wants to Double Capital

EGFI Wants to Double Capital
EGFI Wants to Double Capital

Export Guarantee Fund of Iran, a state-owned export credit agency, is set to increase its capital by €100 million in the next (March 2020-21) budget and it is working hard to further increase this amount to enhance performance.
The money is to be sourced from the National Development Fund of Iran, the country’s sovereign wealth fund. If okayed, the fund's capital will rise to €200 million, while "ECA's minimum capital is expected to be equal to 1% of the total export," says Afrooz Gholami, the EGFI boss.

"Given the total volume of non-oil exports, EGFI's capital should be increased to €500 million to be able to meet international standards. We are working to increase the share proposed in the budget bill," IRNA quoted her as saying. 
Earlier in the month, President Hassan Rouhani submitted the budget bill for the upcoming Iranian year to the parliament.  


Subscribe to the Financial Tribune to continue reading this article or Log in to your account if you are already a subscriber.

Find out more about our subsciption plans here.

Add new comment