NDFI to Inject More Funds to Lift Bourse

The National Development Fund of Iran, the sovereign wealth fund, plans to deposit 25 trillion rials ($100 million) with the Capital Market Stabilization Fund to be invested in the stock market. 
NDFI head Morteza Shahidzadeh said the amount will be deposited before the current fiscal year is out in March, IRIB news website reported. 
Earlier in November, the NDFI deposited 10 trillion rials ($40 million) with the CMSF to shore up the struggling share market. 
The CMSF was created in 2017 to help resolve the credit crunch in the bourse. It has a mandate to supporting the market and safeguard the interest of investors. The fund was launched with an initial 3 trillion rials ($13 million) capital borrowed from the NDFI.