TEHRAN, Iran, Dec.19
Trend:
Export Guarantee Fund of Iran seeks to increase its budget to €500 million in next Iranian year (begins March 21, 2020) budget plan, said head of the fund.
"Fortunately, the assigned budget to the Export Guarantee Fund of Iran in next year budget plan has increased by €100 million from incomes of the National Development Fund, and we seek to increase the sum," said Afrouz Bahrami, Trend reports citing IRNA.
"The fund''s current budget is €100 million but even with the increase of €100 million we still are not up to in global standard level," Afrouz said.
"Although the current capital in the fund is not sufficient, the work has not been stopped, and we continue providing services," the head of the fund added.
"The global standards indicates the volume of export guarantee fund's capital should be one percent of exports; therefore, counting even only the non-oil exports, the capital of Export Guarantee Fund of Iran should be €500 million," Afrouz said.
"The export fund in Saudi Arabia has capital of $4 billion, and Turkey's export fund is $2 billion, which is a considerable difference," she added.