Iran prints out sovereign fund to fight coronavirus

US, WASHINGTON (ORDO NEWS) — Iran’s top leader Ali Khamenei ordered the allocation of 1 billion euros from the National Development Fund of Iran (the country’s sovereign fund) to combat the coronavirus pandemic, CNBC reports citing the website of the Iranian president.

The money will go to the needs of the Ministry of Health and the employment fund. Iranian President Hassan Rouhani said earlier that the government intends to obtain consent to use the money of the national fund to combat the spread of coronavirus.

Iran is under US sanctions and cannot borrow from the backdrop of lower global energy prices.

Iran is the most affected COVID-19 country in the Middle East. 60.5 thousand Iranians were infected with coronavirus, 3739 people died. Over the past 24 hours, 2274 people have become infected.

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