Iran’s NDF allots 20 percent of assets to industry, agriculture sectors
Azerbaijan, Baku, Apr. 16/ Trend F.Milad/
The Iranian National Development Fund (NDF) will allocate 20 percent of its assets to industry and agriculture sectors in the current calendar year, which began on March 20, member of the Iranian parliament (Majlis) Ali-Asghar Yousefnejad stated.
Ali-Asghar Yousefnejad told Fars news agency that 10 percent of the fund's assets will be also paid to the privately-run industrial and mining entities.
President Mahmoud Ahmadinejad said that the National Development Fund's assets would hit $55 billion by the end of the current calendar year.
At least 20 percent of the fund's credits will be allocated to promoting foreign investment, Iran's Finance and Economic Affairs Minister Shamseddin Hosseini said.
According to the Fifth Five-Year Development Plan (2010-2015), the National Development Fund was established to transform oil and gas revenues to productive investment for future generation.
Iran transfers 20 percent of oil revenues to National Development Fund.