Iran Parliament Allows Gov’t to Borrow $30b Overseas

While debating the March 2019-20 budget bill on Monday, lawmakers allowed the government to borrow $30 billion in foreign finance in the next fiscal (March 2019-20).
According to parliamentary news website ICANA, the remaining share of finance from the previous fiscal can be added to the approved figure.  
As per the Note 3 of the budget bill, private sector projects, cooperatives, knowledge-based companies, and non-governmental institutions can seek foreign funds after putting up the collateral with agent banks. 
Legislators allowed the government to withdraw the equivalent of 15% of costs of foreign-funded projects from the National Development Fund of Iran (the sovereign wealth fund). Foreign lenders to development projects have demanded that the head of the project (usually the government) pay 15% of the total cost of the project upfront.