 | |
| Industry | Sovereign wealth fund |
|---|---|
| Founded | 2011 |
| Headquarters | Tehran, Iran |
Key people | Mehdi Ghazanfari (CEO) |
| Total assets | $64.8 billion (June 2014)[1] $35 billion USD (March 2012)[2] $23.8 billion USD (December 2021) |
| Website | www.ndf.ir |
The National Development Fund of Iran (NDFI; Persian: صندوق توسعه ملی) is Iran's sovereign wealth fund. It was founded in 2011 to supplement the Oil Stabilization Fund. NDFI is independent of the government's budget.[3] Based on Article 84 of the Fifth Five-year Socio-Economic Development Plan (2010–2015), the National Development Fund was established to transform oil and gas revenues to productive investment for future generation.[4] It is a member of the International Forum of Sovereign Wealth Funds and therefore is signed up to the Santiago Principles on best practice in managing sovereign wealth funds.[5] Withdrawing any money from this fund requires Khamenei's permission.[6]
Accordingly, 20% of oil income is to be transferred to the National Development Fund and this percentage increases 3% annually until the end of the Fifth Five-year Socio-Economic Development Plan. The new fund is to extend 50% of its financial facilities to private, cooperative and non-governmental sectors and 20% to promote foreign investment (inward and outward).[7][8][9] The remaining 30% is invested (in capital markets) abroad.[3]
NDFI's reserves stood at $24.4 billion in 2011 and $35 billion in 2012.[2][10] It is foreseen that the Development Fund will reach $55 billion by March 2013 and $61 billion by March 2014.[2][11] In October 2023, the fund has US$10 billion in assets under management.[12]
- ^ ,واریزی صندوق توسعه ملی 64 میلیارد و 827 میلیون دلار Archived 4 August 2016 at the Wayback Machine
- ^ a b c Iran oil development fund could reach 55 billion Archived 10 April 2012 at the Wayback Machine
- ^ a b Mazyar mazraati (11 July 2014). "National Development Fund of Iran an overview of activities". Archived from the original on 15 March 2016. Retrieved 23 April 2018 – via YouTube.
- ^ "National Development Fund of Islamic Republic of Iran > About NDF > Articles of Association". en.ndf.ir. Retrieved 10 August 2023.
- ^ International Forum of Sovereign Wealth Funds. "IFSWF Our members". Archived from the original on 27 September 2016. Retrieved 24 September 2016.
- ^ "Iran leader approves tapping sovereign fund for flood relief". Reuters. 15 April 2019. Retrieved 27 October 2023.
- ^ Economy Archived 30 January 2009 at the Wayback Machine
- ^ "Archived copy" (PDF). Archived (PDF) from the original on 2 February 2011. Retrieved 1 October 2017.
{{cite web}}: CS1 maint: archived copy as title (link) - ^ "Iran's NDF allocates $3.8b to private sector - Tehran Times". Archived from the original on 4 November 2011. Retrieved 9 January 2012.
- ^ "National Development Fund allocates $500m to cooperatives bank - Tehran Times". Archived from the original on 16 May 2012. Retrieved 24 December 2011.
- ^ "Iran's National Development Fund to boost assets to $61B". Payvand. 21 March 2013. Archived from the original on 31 December 2013. Retrieved 30 December 2013.
- ^ "National Development Fund of Iran (NDFI) - Sovereign Wealth Fund, Iran - SWFI". www.swfinstitute.org. Retrieved 1 January 2022.