BAKU, Azerbaijan, August 5. The currency reserves of Iran's National Development Fund (NDF) amount to approximately $30 billion, Chairman of the Board of Iran's National Development Fund Mehdi Ghazanfari told local media, Trend reports.
According to him, numerous initiatives are currently being
strategically prioritized within the nation for the optimal
allocation of these financial resources, and if deemed essential,
there exists the potential to augment the currency reserves.
Ghazanfari articulated that the National Iranian Oil Company
presently carries a liability of $17 billion to the NDF,
elucidating that the resolution of this indebtedness could
facilitate the allocation of capital towards novel initiatives in
the capacity of loans or investments.
He stated that should the financial instruments extended by the NDF
be serviced punctually, the capital pool will be positioned to
engage in equity allocations within emerging initiatives.
To note, the National Development Fund plays a key financial role in the implementation of major projects in the country.
In the last Iranian year (from March 20, 2024, through March 20,
2025), the fund issued a total of $148 billion in loans to the
government and private sector.
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