Economy, Domestic Economy

Bolstering Development Funds

Bolstering Development FundsBolstering Development Funds

The government is planning to allocate $600 million in finance to five production-exports development funds. “In a bid to protect domestic production and encourage exports, the administration is to allot $200 million to the Export Guarantee Fund of Iran,” Mohammadreza Nematzadeh, minister of industry, mine, and trade, announced on Monday during the 4th Industrial Research and Technology Conference held in Tehran. “Four other development funds that are in charge of supporting domestic production will receive $100 million each,” he added. Nematzadeh asked the parliament to finance the proposed $600 million through the oil stabilization fund.