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Iran's national development fund officially starts

Business Materials 11 September 2011 18:52
Iran's National Development Fund officially started by paying $2.5 billion loan to 184 development plans in Industry and Mine fields, Mehr News Agency reported.
Iran's national development fund officially starts

Azerbaijan, Baku, Sept. 11/Trend/

Iran's National Development Fund officially started by paying $2.5 billion loan to 184 development plans in Industry and Mine fields, Mehr News Agency reported.

Members of National Development Fund signed agreement with Bank of Industry and Mine Sunday evening.

The National Development Fund officially started its work by paying $2.5 billion loan to 184 in industry and mine majors.

The National Development Fund formed according to Fifth Development Plan(2010-2015)to provide for country's development projects.

Previously member of the board of trustees at National Development Fund Jafar Qaderi underlined National Development Fund's budget will increase from $20 billion to $30 billion by the end of the current solar year (started on March 20, 2011).

He noted about 20 percent of oil and gas revenues were allocated to the fund and the figure is expected to increase by 20 percent each year.

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