The report says the figure indicates 17.5% rise compared with the corresponding period in the previous year.
Bank Mellat and Bank of Industry and Mine had the lion’s share with each funneling $2 billion, followed by Bank Pasargard and Tejarat Bank with $1.5 billion each. Bank Melli Bank Sepah, and Bank Keshavarzi- the agent bank for agriculture sector – each got $1 billion of NDFI facilities to lend to various sectors.
A comparison of plans by NDFI and allocated forex facilities with the first half of the previous fiscal indicates better performance of NDFI specially with respect to renovation and equipping the transportation fleet, although, according to NDFI, the final payments in the first half of the current fiscal decreased due to re-imposition of US sanctions and intense volatility in the forex market, Financial Tribune reported.
The finalized payments of NDFI to different sectors dropped from $1.95 billion in H1 of 2017-18 to 1.68 in H1 of 2018-19.
In terms of sectors that benefitted from NDFI’s foreign exchange facilities, transportation sectors got $1.5 billion in the first half of current fiscal, accounting for about 51% of the total allocations approved by regulatory bodies.
Mining and industries took $330 million as the second beneficiary of NDFI funds followed by petrochemical plants and refineries with $330 million and $324 million, respectively.
The highest amount was allocated by Bank Melli, which injected $675 million into petrochemical plants, transportation and the mining and industry sectors. This was followed by Bank Mellat with $665 million in credits to refineries and transportation sectors.
Bank Parsian was the third main lender of NDFI funds that gave $406 million to the transportation sector.
Data indicate 260% increase in the volume of total funds allocated to complete national development projects in the first half of the current fiscal
$3.5b for Other Schemes
Besides the above figures which were allocated to various economic sectors through agency contracts with banks, the fund allocated $3.5 billion in foreign exchange to finance other major national development projects, $2.9 billion of which was finalized by late September.
Implementation of the amendment to the government's financial regulation law absorbed $1.7 billion, projects related to the management of border waterways took $834 million and completing a water transfer project for Sistan and Baluchestan Province got $157 million.
Data indicate 260% increase in the volume of total funds allocated to complete national development projects in the first half of the current fiscal compared to the corresponding period last year ($817 million).
Rial Loans
By the end of the sixth Iranian month, NDFI deposited 30 trillion rials ($272.5 million) with 15 agent banks for technical, environment and financial projects in the water and agriculture sectors, transformational and supplement industries, mining and industry and tourism.
Deposits in terms of share of various sectors included 15.7 trillion rials ($142.7 million) for the industries and mining sector, 11.7 trillion rials ($106 million) for water and agriculture, 1.6 trillion rials ($13.5 million) for transformational and supplement industries and 1.3 trillion rials ($11.7 million) for tourism.
Additionally, 15 trillion rials ($136 million) was allocated as per provision of the law on Supporting Sustainable Development and Employment in Rural Areas.
The sum was deposited with Bank Keshavarzi with 7.5 trillion rials ($68 million), Post Bank and Tose’e Ta’avo Bank and Omid Enterprise Fund each receiving 2.5 trillion rials ($22.7 million).