TEHRAN, Iran, Feb. 21
Trend:
Iran's National Development Fund (NDF) is seeking to invest in the capital market via Capital Market Stabilization Fund, said the Chairman of the Executive Board of the National Development Fund Mehdi Ghazanfari, Trend reports citing Mehr News Agency.
"This would be the first move by the National Development Fund to own share in the capital market," he said.
"Attracting foreign investment by using resources of the fund directly or indirectly and cooperation with other funds including ECO Sovereign Wealth Funds are the other targets of the National Development Fund," he indicated.
The NDF supports and offers advances to energy infrastructure including oil, gas, petrochemical, and border waters sectors.
The official has noted that the National Development Fund's mission is to convert oil export revenues to valuable assets.
NDF has deposited 120 trillion rials (about $430 million) of its resources into the stabilization fund to support the stock market.