It allocated $22.6 billion to private sector projects, $96 million to cooperatives, $14.9 billion to nongovernment economic firms and $569 million to other schemes.
It said $14 billion was given to various economic sectors through agency contracts with banks. Bank Mellat and Bank of Industry and Mine had the lion’s share with each releasing $2 billion, followed by Bank Pasargard and Tejarat Bank with $1.5 billion each. Bank Melli Bank Sepah, and Bank Keshavarzi - the main agriculture bank – each got $1 billion of NDFI facility to lend to diverse sectors.
According to NDFI, $11.35 billion went for national agricultural, farming and water projects such as water management near the border, completing development plans envisioned in the Sixth Five-Year Economic Development Plan, water projects in Sistan-Baluchestan Province, and recovering and developing agricultural land in Khuzestan and Ilam provinces, Financial Tribune reported.
In terms of sectors that benefitted from NDFI foreign currency lending, transportation sectors got $1.5 billion in the first 9 months of previous year, accounting for about 51% of the total allocation.
Mining and industries with $743 million came in second followed by petrochemical companies and refineries with $330 million and $324 million, respectively.
The lion’s share was allocated by Bank Melli, which injected $675 million into petrochemical plants, transportation and mining and industry sectors. This was followed by Bank Mellat with $665 million in credit to refineries and transportation sectors.
Bank Parsian was the third main lender of NDFI funds lending $406 million to the transportation sector.
National Development Projects
Besides the above figures, which were allocated through agency contracts with banks, the fund released $7.2 billion in forex to help national development projects.
The report says the sum was paid to 13 agent banks to help fund national oil and gas refineries, petrochemical plants, mining and industries, power plants and other national projects.
By the end of the ninth Iranian month, NDFI deposited 67 trillion rials ($503.7 million) with 18 agent banks for technical, environment and financial projects in the water and agriculture sectors, transformational and supplement industries, mining, industry and tourism.
Deposits in terms of share of various sectors included 18,058 billion rials ($135.77 million) for industries and mining, 10,960 million rials ($82.4 million) for water and agriculture, 2,176 million rials ($16.36 million) for transformational and supplement industries and 2,496 million rials ($18.76 million) for tourism.
Additionally, $1.5 billion was allocated as per provision of the law on Supporting Sustainable Development and Employment in Rural Areas.
Law stipulates that the funds are to be provided for non-government projects as well as for working capital of production units in rural areas and cities with a population below 10,000. The money was deposited with Bank Keshavarzi, Post Bank, Tose’e Ta’avon Bank, Omid Enterprise Fund and the Fund for Agricultural Development.