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NDFI Lends $320m to Six Banks for Loan Allocation

NDFI Lends $320m to Six Banks for Loan AllocationNDFI Lends $320m to Six Banks for Loan Allocation

Iran’s sovereign wealth fund deposited a total of 14 trillion rials ($320 million) with six agent banks in the first four months of the current fiscal year (ended July 21) for the lenders to allocate as low-interest loans to various sectors with a special focus on agriculture.
According to a report published on the official website of the National Development Fund of Iran, the fund gave 500 billion rials ($11.41 million) to Post Bank to be allocated as loans to knowledge-based firms, 2 trillion rials ($45.66 million) to Tose’e Taavon for industrial, mining, water, agriculture and complementary industries and 800 billion rials ($18.26 million) to Refah Kargaran for industrial and mining projects.

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