US sanctions imposed on NDFI to have no effect in paying forex facilities

TEHRAN, Sep. 22 (MNA) – Member of the Board of Trustees of the National Development Fund of Iran (NDFI) Mohammad Hosseini said that US sanctions have no impact on performance of the Fund, so that NDFI’s presentation of foreign exchange services to the production sector will continue.

He made the remarks on Saturday in an interview with IRNA and added, “the Fund has been severely affected by the US sanctions imposed on Iran’s oil and banking sectors over the past months and new US sanctions will have not any significant impact on the performance of the Fund.”

Offering foreign exchange facilities to the production sector is one of the main missions of the National Development Fund of Iran, he said, stating, “financial and banking system of the country have gained favorable achievements and experiences in sanctions period, so, exacerbation of sanctions cannot affect the performance of the Fund negatively.”

Pursuant to its articles of association and bylaws ratified at the Board of Trustees, the National Development Fund of Iran (NDFI) has so far embarked on presenting foreign exchange facilities to investors, he emphasized.

Through using these facilities, the Fund has gained favorable achievements in various economic sectors such as upstream, downstream, oil, gas and petrochemical industries, he noted.

Widespread projects have thus far been launched using financial resources of the Fund, so that new US sanctions imposed on the country will have not any significant impact on the trend of the provision of forex facilities, he added.



News Code 150318


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