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NDFI

  • EghtesadOnline: The Majlis on Sunday approved provisions of the next fiscal budget bill that require the government to set aside a bigger share of energy export revenue for the National Development Fund of Iran, the sovereign wealth fund.

  • EghtesadOnline: Governments’ appropriation of the foreign exchange resources of the National Development Fund of Iran, the country’s sovereign wealth fund, has been rising constantly over the past few years, such that the fund now accounts for a significant part of the budget, Mehdi Pazouki, an economic expert, said in a write-up for the Persian daily Jahan-e Sanat. A translation of the text follows:

  • EghtesadOnline: The National Development Fund of Iran gave 880 trillion rials ($3.2 billion) in loans in the first seven months of current fiscal year (March 20-Oct.21), the managing director of the sovereign wealth fund said.

  • EghtesadOnline: The main challenge the National Development Fund of Iran is facing is the difficulty of borrowers in reimbursing loans, the fund’s deputy for banking and credit affairs said.

  • EghtesadOnline: The National Development Fund of Iran will deposit $150 million with the Capital Market Stabilization Fund to help boost the ailing stock market.

  • EghtesadOnline: A total of 56.5 trillion rials ($245.11 million) have been paid as part of coronavirus package from the National Development Fund of Iran, ISNA quoted Hamid Pour-Asghari, an official with the Plan and Budget Organization of Iran, as saying.

  • EghtesadOnline: In a press release outlining reasons behind the monumental growth in liquidity in recent months, the Central Bank of Iran blamed borrowing from the National Development Fund of Iran and the new US sanctions on oil exports.

  • EghtesadOnline: The government can withdraw €3.4 billion from the National Development Fund of Iran in the next fiscal year (starts March 2020), to finance development projects.

  • EghtesadOnline: The Cabinet has decided to allocate €300 million needed to complete the railroad project connecting the southeastern port city of Chabahar to the eastern city of Zahedan near the border with Afghanistan and Pakistan, both in Sistan-Baluchestan Province, from the National Development Fund of Iran, the country’s sovereign wealth fund.

  • EghtesadOnline: In a report on the misuse of the National Development Fund of Iran, the Majlis Research Center says a large part of the sovereign wealth fund has been used in sectors outside the purview of the fund.