Council Approves Capital Boost For EGFI

The High Council of Economic Coordination approved a proposal Sunday to increase capital of the Export Guarantee Fund of Iran, the main export credit agency.  
The council, which is an ad-hoc body comprising heads of three branches of power to fast-track macroeconomic decisions, agreed to increase EGFI capital threefold by adding $200 million, according to its managing director Afrouz Bahrami. 
Despite the need to boost non-oil exports, the agency’s capital was until recently $100 million, hardly accounting for 2% of the total non-oil export.