Iran has become the third largest shareholder of the International Islamic Trade Finance Corporation

Almaty. June 30. Silkroadnews - Iran has significantly increased the proportion of its share in the International Islamic Trade Finance Corporation (ITFC), which operate under the auspices of the Islamic Development Bank (IDB), reports IrTAG on Tuesday.
According to the resolution, Iran will receive 8.5 thousand new shares in the amount of $85 million, making the Republic the third largest shareholder of the international financial architecture after the IDB ($266 million) and Saudi Arabia ($120 million). By the end of 2013, Iran's share in the corporation amounted to just under $2 million.
Since its inception in 2008, ITFC has funded the implementation in Iran of a dozen of different projects, the cost of which to date has already exceeded $594 million. In 2014, total investment portfolio totaled more than $5.2 billion, versus $3.4 billion a year earlier.