Iran has committed $115 million in loans and grants to support artificial intelligence (AI) projects within its universities and research centers, marking a significant push to advance the country’s AI capabilities. The allocation was finalized on Sunday through a memorandum of understanding (MoU) between the National Development Fund of Iran (NDFI) and the Ministry of Science, Research and Technology (MSRT).
Under the agreement, the NDFI will provide over 12.5 trillion rials (approximately $15.6 million) in grants to commercialize AI projects across universities and private research centers. Additionally, a loan package of $100 million will be available for further AI developments, with the MSRT overseeing the execution of these initiatives and ensuring proper fund utilization.
The NDFI, which operates independently of Iran’s government budget, will also receive a tax exemption in return for this investment. The Fund plays a crucial role in channeling Iran’s petroleum export revenues into sustainable investments for future generations, and this new initiative underscores the country’s ambition to establish itself as a leader in AI technology.
Hossein Simayi Sarraf, Iran’s Minister of Science, emphasized the importance of these funds for universities and research centers to remain competitive in the global AI landscape. “AI has spread everywhere and this is undeniable,” Sarraf stated. “Major countries have made huge investments in AI, and we will also increase investment in this field.”
Iran has ramped up its AI initiatives in recent months, with plans to integrate AI technologies across government institutions and private sector companies. The country is also exploring potential partnerships with global AI leaders, such as South Korea, to enhance its infrastructure and acquire the necessary technology and expertise to implement AI projects effectively.
