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NDFI Offers $1b to Boost Exports/ Production

NDFI Offers $1b to Boost Exports/ ProductionNDFI Offers $1b to Boost Exports/ Production

The National Development Fund of Iran will allocate 40,000 billion rials (more than $1 billion at current market exchange rate) to boost production and exports in the current Iranian year (March 2016-17), says the fund’s deputy head Mohammad Qasem Hosseini. The sovereign wealth fund was created in 2011 to use part of surplus revenues from crude oil sales for investing in long-term projects. According to Hosseini, the NDFI has now close to $80 billion of assets.

Financialtribune.com