National Development Fund to invest outside Iran
Azerbaijan, Baku, July 22/Trend M. Moezzi
Iran will probably move some of the money in its National Development Fund (NDF) overseas to cover possible fluctuations in the country's balance of payments.
Mohammad Reza Farzin, the chairman of the NDF board, told Mehr news agency the Fund is looking into foreign investments.
Such a move is legally permitted, said Mr. Farzin who added the Fund is evaluating options for its investments. The projects will probably be related to developing Iran and to domestic economic issues.
In May of this year, the NDF was reported to have $31 billion in reserves.