$1 Billion NDFI Loan to Boost Homeownership

The idea of tapping into the reserves of the National Development Fund of Iran to empower the country’s main initiative aimed at supporting first-time homebuyers and other housing applicants has reportedly gathered steam and may be finalized in as early as two weeks.
According to a deputy minister of roads and urban development, the Central Bank of Iran has given its consent for $1 billion to be drawn from the country’s sovereign wealth fund and be redirected to the Housing Savings Account in Bank Maskan, the agent bank of the housing sector.
“After the CBI approval, the issue has now been referred to Majlis Development Commission and based on the request of the Ministry of Roads and Urban Development from the respected members of the commission, it has been decreed that the allocation of the sum will be put on the main agenda of the parliament and approved in two weeks,” Houshang Ashayeri was quoted as saying by the official news portal of the ministry.