TEHRAN, Iran, July.2
Trend:
About $1.5 billion from the resources of the National Development Fund has converted to rial and invested in banks to develop and support creating sustainable jobs in rural and tribal areas.
The following resource would use to provide advances to individuals and non-governmental institutes to create jobs in villages and cities with less than 10,000 populations in border and tribal areas, Trend reports citing ISNA.
The recent report of the National Development Fund indicates that from 2017 to 2018 and 2020 total of $1.5 billion saved in banks and selected funds in five stages.
The fifth stage was done during the first nine months of the last Iranian year (started March 20, 2020) to assign $245 million credit for development and creating sustainable jobs in rural and tribal areas provided by the National Development Fund.
In regards to foreign currency rate fluctuation it is possible that the rial celling set in the fifth stage would increase and if the National Development Fund approves more resources would be assigned.