Economy, Domestic Economy

$2b in Loans for Exporters

$2b in Loans for Exporters$2b in Loans for Exporters

The government has allocated $2 billion in loans from the National Development Fund of Iran to exporters, the minister of economic affairs and finance said on Tuesday. Masoud Karbasian added that the interest rate on these export loans will be 4%. “An additional 22 trillion rials ($564.1 million) in cheap loans will be offered to exporting companies,” IRNA quoted Karbasian as saying. Iran’s sovereign wealth fund NDFI was created in the 2000s to save oil revenues to develop Iran and invest overseas for future generations. Mohammad Hosseini, who represents the parliament on the NDFI board, said in June that the fund had $91 billion in reserves.

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