IFP Exclusive

Iran Allocates $100m for Production of Two Vaccines

Iran’s Health Ministry says the country has approved the withdrawal of $100 million from the National Development Fund for domestic production of two new vaccines.

According to Health Ministry Spokesman Iraj Harirchi says the withdrawal of the fund has been authorised by the Leader of Islamic Revolution Ayatollah Seyyed Ali Khamenei.

“The withdrawal of $100 million for [producing] these two vaccines has been finalized”, Harirchi said in a regular press briefing on Monday.

The fund will be spent on importing the know-how of the manufacturing process of pneumococcal and rotavirus vaccines, which prevent pneumonia and severe diarrhea, respectively, he added.

Harirchi said the Pasteur Institute has been tasked with producing the vaccines.

The Pasteur Institute is a leading regional facility in the development and manufacture of vaccines, a Farsi report by IRNA said.

The allocation of the fund was approved by the Iranian parliament in their latest open session on Saturday, when they reviewed the details of the fiscal year 2018-19 budget law.

Iran’s National Development Fund, the country’s foreign currency reserves, was founded in 2000.

Its objective was to save money for the next generations of Iranians and to make sure that the country’s economy survives when there is a plunge in the price of oil, Iran’s main source of income.

According to the Constitution, the authorisation of the withdrawal of funds from the NDF is part of the responsibilities of the Leader.

IFP Editorial Staff

The IFP Editorial Staff is composed of dozens of skilled journalists, news-writers, and analysts whose works are edited and published by experienced editors specialized in Iran News. The editor of each IFP Service is responsible for the report published by the Iran Front Page (IFP) news website, and can be contacted through the ways mentioned in the "IFP Editorial Staff" section.

Recent Posts

Int’l lawyer: US plans to sanction countries cooperating with ICC on Netanyahu arrest

An international law expert and analyst has revealed the U.S. plans to impose punitive measures…

29 minutes ago

Minister of science: 25% of Iranian university professors emigrated due to economic challenges

Iran’s Minister of Science, Research, and Technology, Hossein Simayee Saraf, addressed on Thursday academic migration…

31 minutes ago

IRGC commander: ICC ruling against Netanyahu signifies political demise of Israel

The Commander of Iran’s Islamic Revolution Guard Corps (IRGC), Major General Hossein Salami, says that…

33 minutes ago

IRGC: US Iran’s main enemy, Israel can’t survive without its support

The spokesperson and deputy head of public relations for the Islamic Revolution Guard Corps (IRGC)…

3 hours ago

Iran says increased number of its centrifuges in response to the IAEA resolution

The Atomic Energy Organization and the Iranian Foreign Ministry announced that, in response to the…

3 hours ago

Iranian, Belarusian tourism ministers meet on facilitating tourist movement

Iran's Minister of Cultural Heritage, Tourism, and Handicrafts, Seyed Reza Salehi Amiri, met on Thursday…

6 hours ago