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Tuesday 04 March 2014
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2 B$ of NDFI funds to be deposited in banks abroad

The Iranian parliament has provided the national development fund of Iran discretion to deposit 2 billion US dollars of its available funds with banks outside of Iran for the funding of Iranian contractors who have scored international project tenders. According to ISNA, based on the cited approval of the parliament, NDFI with continued abidance with article 84 of the 5th five year developmen...
The Iranian parliament has provided the national development fund of Iran discretion to deposit 2 billion US dollars of its available funds with banks outside of Iran for the funding of Iranian contractors who have scored international project tenders. 
According to ISNA, based on the cited approval of the parliament, NDFI with continued abidance with article 84 of the 5th five year development plan may disburse the amount of 2 billion US dollars for the funding of the projects and performance bonds of Iranian contractors or exporters of goods and technical services via deposits in target country banks.
Utilizing the Iranian central banks line of credit is only admissible for this specific purpose and all other activities are subject to further approval.

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