News ID: 281038
Published: 0345 GMT February 23, 2021

NDF allocates €200m for promoting exports to Africa

NDF allocates €200m for promoting exports to Africa

Iran’s National Development Fund (NDF) opened a €200 million credit line for the country’s Trade Promotion Organization (TPO) to use for developing exports of goods and services to African states.

The fund was allocated as part of a $2-billion support package which was dedicated by NDF for developing the country’s non-oil exports, Farzad Piltan, the director general of TPO’s Office of Arabian and African Countries said, according to IRNA.

“The board of directors of the NDF has approved this fund and it has scheduled to notify the relevant agencies for its implementation after the plan is reviewed and finalized during the next meeting of the African headquarters, to be headed by the first vice president,” Piltan noted.

According to the official, despite all the opportunities and capacities for mutual cooperation, the development of economic and trade ties with Africa has been facing some problems including lack of planning, lack of recognition and interest by the private sector organizations.

“These problems are expected to be solved gradually with the opening of the said credit line,” he said.

The official noted that the TPO and other relevant government bodies and agencies are preparing plans in order to boost the Islamic Republic’s trade with African trade partners.

Holding three joint economic committees and four joint industrial committees with target African countries, holding 10 exclusive exhibitions in 10 African countries and participation in 10 international exhibitions in African countries are some of the mentioned programs, he explained.

Over the past few years, the Iranian government has been pursuing new plans to promote the country’s exports of non-oil goods and services to new markets in order to reduce the country’s economic dependence on oil revenues.

In this regard, TPO has played a significant role in supporting the country’s exporters and following up on the implementation of programs.




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