Gov’t Supports Tech Firms by Tapping Into NDFI Resources

The Vice Presidential Office for Science and Technology has extended 18 trillion rials ($70.3 million) in cheap loans to 166 knowledge-based companies by using the resources of the National Development Fund of Iran. 
Based on an edict of the Leader of Islamic Revolution Ayatollah Seyyed Ali Khamenei, the office has been authorized to tap into the sovereign wealth fund’s resources for supporting knowledge-based companies. 
In a letter to the Leader, Vice President for Science and Technology Sorena Sattari has detailed how the office used the money. 
According to Sattari, the loans have been paid to 166 knowledge-based companies active in agriculture, industrial and mining sectors based in rural areas, ISNA reported.
“Thanks to the financial aid, the borrowers have made noteworthy progress and grown into large enterprises,” he wrote.