Azerbaijan, Baku, Sep.16/ Trend F.Milad/
The National Development Fund (NDF) of Iran has allocated $3 billion worth of its assets to pay facilities in loans to the agriculture and industry sectors, the NDF's deputy manager said.
Mohammad-Qasem Hosseini added that the sum will be turned into rials for financing domestic projects in industry, mine, water, and agriculture projects, the Fars news agency reported.
On May 15, the industry, mine and trade minister said that ten percent of the NDF's assets will be allocated for supporting the domestic production sector.
Mehdi Ghazanfari told the IRNA news agency that three percent of assets of specialized industry and agriculture banks will be also paid to boost the production sector.
According to the current year's budget law, 10 percent of the NDF's assets should be turned into rials and be invested in the agriculture sector and 10 percent in the industry sector, Mahmoud Dodangeh said, the Mehr news agency reported.
President Mahmoud Ahmadinejad has said that the NDF's assets would hit $55 billion by the end of the current calendar year (March 20, 2013).
According to the Fifth Five-Year Development Plan (2010-2015), the NDF was established to transform oil and gas revenues to productive investment for future generation.
Iran transfers 20 percent of oil revenues to the fund.