EghtesadOnline: The National Development Fund of Iran (NDFI) released a report on its performance since inception in 2011 up until the last calendar year that ended in March.
Deals to the tune of $119.2 billion were signed with banks during the 11 years. In the last fiscal (March 2021-22), $3.12 billion was allocated to nine lenders, the sovereign wealth fund said.
Up until March 318 projects borrowed $34.03 billion of which 311 were active, three fully reimbursed their debt and four projects folded. From the 311 projects, 309 opened LCs worth $28.7 billion and reported 71% progress until March this year.