NDFI to Inject $150m in Bourse

The National Development Fund of Iran will deposit $150 million with the Capital Market Stabilization Fund to help boost the ailing stock market.
Citing officials from the sovereign wealth fund, the state-owned news agency IRNA said that the payment will be made before the current calendar month is out on Nov.21.
Based on an earlier NDFI decision, the money will be a loan at 12% to be repaid in five years and the maturity can be extended. The CMSF is responsible for paying the principal amount plus interest.  
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 ($11 million) capital borrowed from the NDFI.