Iran's National Development Fund approves one billion dollars in FX facilities for agriculture

Mehdi Ghazanfari, head of the executive board of Iran's National Development Fund, said on Wednesday 29 July 2026 (7 Mordad 1405), at a meeting with Agriculture Minister Gholamreza Nouri, that the fund has approved the Ministry of Agriculture's request for one billion dollars. He said the approval was granted with commitments for the return of the resources, so that alongside securing food supply the durability of national assets is also preserved.

Nouri said the ministry's original request was for facilities of about 1.7 billion dollars from the fund's resources, and that approvals of about one billion dollars are currently envisaged. He described the purpose of the funds as maintaining and replenishing the country's strategic reserves and strengthening self sufficiency in basic goods, and stressed the need for a change of approach in financing the agricultural sector.

Reza Mohammadi, the fund's deputy for investment and financing, told the same meeting that since the fund began operating a total of 118,000 projects in the fields of water, agriculture and agricultural processing industries have been financed through rial deposit contracts.