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Monday 12 November 2012
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 NDFI Resources 42 Billion Dollars

NDFI Resources 42 Billion Dollars

Mohammad Reza Farzin, CEO of National development Fund of Iran, announced the resources of NDFI to be 42 billion dollars.

He referred to 14 contracts between NDFI and private and state-owned agent banks, for the provision of some 29 billion dollar loan facilities to the projects of different sectors, including 12.5 billion dollars frozen to be allocated to industry, mining and trade sector, and said the projects create 54000 jobs.

Based on him, 2 billion will go to two other phases of South Pars gas projects.

On the energy and power sector, he referred to good investment opportunities in the country and claimed Iran to be able to meet the energy and electricity needs of the countries in the region.

According to the memorandum of association of NDFI (Article 84 of the Fifth Development Plan) the facilities of NDFI may not be exchanged for national currency (Rial) within the country and repayment of loans is required to be made in foreign currency to avoid increase of liquidity.

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