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Provincial Investment Funds Approved

Provincial Investment Funds ApprovedProvincial Investment Funds Approved

The Central Bank of Iran has approved the scheme to form provincial investment funds throughout Iran, announced the chairman of Majlis Budget Commission. “It has been decreed by CBI that investment funds be first formed for underdeveloped provinces,” said Gholamreza Tajgardoun was quoted as saying by Banker.ir. According to the lawmaker, a part of the credit pertaining to these funds includes fixed capital “which will be provided by the National Development Fund of Iran, banks and provinces in a joint effort because without the participation of the provinces themselves, the plan will not succeed”. Tajgardoun also said any suggestion regarding the scheme will be incorporated in the sixth development plan (2016-21).

Financialtribune.com