Business And Markets

NDFI Lending Exceeds $8b

NDFI Lending Exceeds $8b
NDFI Lending Exceeds $8b

According to the National Development Fund of Iran data, the sovereign wealth fund gave 27 trillion rials ($267 million) to agent banks for loans in the first quarter of current fiscal to June.  
The money is allocated as per two legal provisions, namely the amendment to Article 52 of the Government's Financial Regulations Law and the law on Supporting Sustainable Development and Employment in Rural Areas using NDFI resources law. 
According to NDFI, 12 trillion rials ($118.8 million) was deposited with agent banks to finance various sectors and help complete development projects. 


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