Iran’s NDF finances 376 projects valued at $23.6 billion
Azerbaijan, Baku, Oct.7/ Trend F.Karimov/
The National Development Fund of Iran has provided $23.6 billion for implementing 376 projects in the country so far, the Fars News Agency quoted the ex-director of the fund, Mohammadreza Farzin, as saying.
To date, $10 billion has been allocated to oil projects, $3.4 billion has been allocated to petrochemical projects, $2.4 billion has been allocated to power plant projects, and $1 billion has been allocated to cement projects, he added.
The NDF ranks 20th in terms of assets among the world's national development funds, he said, adding that the fund's assets amount to $54.6 billion.
In the Iranian calendar year 1390 (March 2011-March 2012), 10 percent of the fund's assets was allocated to the agriculture sector. In 1391 and 1392, the figure rose to 20 percent, he noted.
On Sunday, Safdar Hosseini was appointed as the new director of the NDF. Hosseini replaced Mohammadreza Farzin.
In September, the NDF deputy director said that assets of the NDF will increase by over $8 billion in the current Iranian calendar year, to reach $61 billion. Qasem Hosseini said the figure represents the worst case scenario.
If the projected oil revenues are earned, the fund's assets will hit $61 billion by the end of the year, Hosseini said.
The current Iranian calendar year began on March 21, 2013.
The NDF assets amounted to $49.9 billion in the past Iranian calendar year, he said.
Iran transfers 20 percent of its oil revenues to the NDF.