Iran News ...


Some $40b in Iran's National Development Fund

Source: Tehran Times

The National Development Fund (NDF) of Iran has some $40 billion in cash, the NDF managing director announced on Tuesday. Iran transfers 20 percent of its oil revenues to National Development Fund.

Mohammad-Reza Farzin added that $11.5 billion of the sum had been allocated for supporting the private sector, according to the Fars News Agency.

Over $500 million will be also paid to support tourism, he noted.

President Mahmoud Ahmadinejad has said that the National Development Fund's assets would hit $55 billion by the end of the current year.

According to the Fifth Five-Year Development Plan (2010-2015), the National Development Fund was established to transform oil and gas revenues to productive investment for future generations.

Related Info: National Development Fund (NDF) - wikipedia

... Payvand News - 08/09/12 ... --

comments powered by Disqus

Home | ArchiveContact | About |  Web Sites | Bookstore | Persian Calendar | twitter | facebook | RSS Feed

© Copyright 2012 NetNative (All Rights Reserved)