Iran NDF assets stand at $33 billion

Iran Materials 2 October 2012 17:00 (UTC +04:00)

Azerbaijan, Baku, Oct. 2/ Trend , D.Khatinoglu/

A member of the governors board at the National Development Fund in Iran has announced that the funds' assets stand at $33 billion, IRIB TV reported.

Mahmoud Dodangeh said that about $ 41 billion has input into the Fund, while with regarding $8 billion paid loans and issued financial facilities, today NDF's assets totals at $33 billion.

"NDF only keep USD currency, when gives loan calculates both the loan mount and its interest through USD," he said.

Dodangeh's statement about NDF's assets came as two days ago Seyyed Mohammad Qasem Hosseini, the NDF's deputy director said that NDF is ready to distribute $25 billion in foreign exchange facilities to applicants.

He told the Islamic Republic News Agency (IRNA) that the Fund can also provide 60 trillion rials (nearly $4.9 billion at current official USD rate) to candidates.

Based on Article 84 of the Fifth Five-year Socio Economic Development Plan (2011-2015), the National Development Fund was established to transform oil and gas revenues into productive investments for future generations. At least 20 percent of the NDF's money should be allocated to promoting foreign investments.