Islamic Development Bank funds Iranian projects

Islamic Development Bank funds Iranian projects
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Published November 14th, 2012 - 12:15 GMT via SyndiGate.info

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The Islamic Development Bank is to fund new projects in Iran
The Islamic Development Bank is to fund new projects in Iran

 The Islamic Development Bank has allocated €1.27 billion in loans to Iran for implementing a number of wastewater projects, Iranian National Water and Wastewater Company Deputy Director Hossein Bonakdari said on Tuesday. The loan has been provided according to a deal for a period of three years, he said, adding that three projects are underway which have been financed by the IDB loans, the Fars News Agency reported.

Meanwhile, Tehran Water and Wastewater Company Managing Director Mohammad Parvaresh said that the IDB will provide a €273 million loan by November 21 to carry out related projects.

He added that 50 trillion rials (about €3.2 billion) is needed to fully implement the projects.

 

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