Gov’t can borrow €3.4b from NDFI

Financial Tribune – The government can withdraw €3.4 billion from the National Development Fund of Iran in the next fiscal year (starts March 2020), to finance development projects.

As proposed in next year’s budget bill (202-21), NDFI, the sovereign wealth fund, resources would be used in financing 15 categories of projects, namely innovative industries, water supply, defense, transport and higher education.

Earlier this month, President Hassan Rouhani submitted the budget bill to the parliament.