Business And Markets

NDFI Lends $18b in H1

NDFI Lends $18b in H1
NDFI Lends $18b in H1

A report by the National Development Fund of Iran shows that the sovereign wealth fund allocated $14.7 billion in foreign exchange in loans through 20 agent banks during the first half of current fiscal (March 21- Sept. 22.).
The report says the figure indicates 17.5% rise compared with the corresponding period in the previous year.
Bank Mellat and Bank of Industry and Mine had the lion’s share with each funneling $2 billion, followed by Bank Pasargard and Tejarat Bank with $1.5 billion each.  Bank Melli Bank Sepah, and Bank Keshavarzi- the agent bank for agriculture sector – each got $1 billion of NDFI facilities to lend to various sectors. 


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