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The National Development Fund of Iran 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. 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. 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. Withdrawing any money from this fund requires Khamenei's permission.
References
- ↑ Sovereign Wealth Fund Institute
- ↑ "Kiribati: Statistical Appendix". International Monetary Fund Country Report No. 11/114. 24 May 2011. Retrieved 10 September 2011.
- ↑ "Kiribati: 2011 Article IV Consultation-Staff Report, Informational Annexes, Debt Sustainability Analysis, Public Information Notice on the Executive Board Discussion, and Statement by the Executive Director for Kiribati". International Monetary Fund Country Report No. 11/113. 24 May 2011. Retrieved 10 September 2011.
- ↑ "Kiribati govt says trust fund set to reach a billion dollars". Radio New Zealand . 27 August 2018.
- ↑ Government of Kiribati 2021 Recurrent Budget, retrieved 29 November 2021
