Azerbaijan, Baku, Oct. 7 /Trend A. Gurbanova/
The National Development Fund will assign $1.3 billion to technical and engineering services to private sectors, Mehr News Agency reported quoting head of National Development Fund Asghar Ghorbani as saying.
"The National Development Fund will assign $1.3 billion to private sectors to support technical and engineering services and $700 million to the Agriculture Development Fund," he said.
The National Development Fund currently assigned $2.5 billion to Bank of Industry and Mine to provide for 184 industrial plans and $1.3 billion to Agriculture Bank to support agriculture sector, he added.
The Iranian government launched the National Development Fund to assign 20 percent of oil revenues to private sectors, he added.
According to Article 84 of the Fifth Development Plan (2010-2015), the National Development Fund was established to transform oil and gas revenues to productive investment for future generation and any attempt to pay government debts from this fund is illegal.