Baku, Azerbaijan, April 14
By Fatih Karimov - Trend: Assets of Iran's National Development Fund have increased $9 billion in the past 4 months.
The NDF managing director, Safdar Hosseini, said that the fund's assets are being allocated mainly to carry out medium and large projects as well as development plans in underprivileged areas,Iran's Fars news agency reported on April 14.
The NDF is Iran's sovereign wealth fund. It was founded in 2011 to replace the Oil Stabilization Fund.
The NDF forecasts its total assets to increase by $17.5 billion in the current Iranian calendar year, which began on March 21, 2014.
Iran will deposit 31 percent of its oil income to the NDF in the current year. Based on Iran's Fifth Five-Year Development Plan, the NDF's input should be increased by 3 percent by 2015.
Edited by C.N.