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                                        Volume. 12116
National Development Fund allocates $500m to cooperatives bank
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Iran’s National Development Fund (NDF) allocated $500 million to the country’s Cooperatives Development Fund toward supporting the cooperative sector in line with objectives of the fifth development plan (2010-2015), the NDF director stated.

Iran has allocated $5.4 billion of the National Development Fund’s assets to promote foreign investment plans in the country, the finance and economic affairs minister stated.

“The current year’s budget act has envisages incentives for foreign entities to participate in Iranian projects,” Shamseddin Hosseini added, the Mehr news agency reported.

Earlier in November, Hosseini said that the National Development Fund's reserves stand at $24.4 billion and at least 20 percent of this sum will be allocated to promoting foreign investment.


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