Jan 22 2013 |
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NDF allocates $2b to support low-income Iranian families
TEHRAN - The Iranian parliament and the administration of President Mahmoud Ahmadinejad have agreed to allocate $2 billion from the National Development Fund to support low-income families.The money will be used to provide staple foods to poor families, the Mehr News Agency reported.
The NDF has allocated $3 billion for loans to the agricultural and industrial sectors, Mohammad-Qassem Hosseini, who is one of the deputy managing directors of the NDF, said in September 2012.
In May 2012, Industry, Mines and Trade Minister Mehdi Ghazanfari said that ten percent of the NDF's assets would be allocated to support national production.
On December 24, 2012, the Mehr News Agency quoted Ehsan Sharifi, who is another of the deputy managing directors of the NDF, as saying that about $43 billion had been deposited in the fund so far.
Iran transfers 20 percent of its oil revenues to the NDF.
President Ahmadinejad recently said that the NDF's assets would hit $55 billion by the end of the current Iranian calendar year, which ends on March 20, 2013.
© Tehran Times 2013
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