NDFI Lowers Interest on Export Loans

The board of trustees of the National Development Fund of Iran (NDFI) cut interest rates on rial loans that will be allocated to exporters. The export loan interest rates were brought down to 11% from the previous 14% in order to help boost non-oil exports, reports Mehr News Agency. A meeting of NDFI members was held on Saturday with President Hassan Rouhani presiding over the session. The board of trustee also approved that in underprivileged areas the interest rates on export loans would be cut further to 7%.