Iran’s sovereign wealth fund has announced that it currently manages assets valued at an impressive $195 billion, with significant investments in major energy initiatives. At a press conference celebrating the 15th anniversary of the National Development Fund of Iran (NDFI), CEO Mehdi Ghazanfari highlighted that this fund ranks as the 13th largest sovereign wealth fund globally based on its asset portfolio.
During his address, Ghazanfari shared that since its inception, the NDFI has disbursed roughly $42.2 billion in loans. Of this amount, about $12.1 billion has already been repaid, while another $9.1 billion is still pending maturity. He also pointed out that the total mature loans owed to the NDFI stand at $21 billion. Notably, the National Iranian Oil Company (NIOC) is the fund's largest debtor, with a staggering $17 billion in outstanding loans, followed by Iranian power plants, which owe $2.1 billion.
Alaeddin Mirmohammad Sadeghi, a board member of the NDFI, added that the fund has committed nearly $5 billion towards investments in Iran’s renewable energy sector, which includes projects focused on solar and wind energy. Furthermore, he revealed that the NDFI has approved a substantial $2.5 billion investment for a significant development project in the Azadegan oil field, strategically located near the Iraqi border and linked to a vital cross-border reservoir.
Prior to the establishment of the NDFI in 2011, Iran used to deposit its excess oil export revenues into a government-controlled account. Now, this sovereign wealth fund operates under the oversight of a dedicated board of directors and has the authority to issue emergency loans, contingent upon the approval of the Leader of the Islamic Revolution, Ayatollah Seyyed Ali Khamenei.
