Islamic Development Bank funds Iranian projects
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.
- 'Fiscal juggling': just how many economic priorities will Saudi Arabia's new King have to focus on?
- Despite Erdogan's 'harsh rhetoric', Turkish-Israeli is still booming
- UAE is best MidEast economy for attracting talent, index says
- The Arab Spring's success story: what will it take for Tunisia to unlock its full economic potential?
- A serious 'talent gap':the post-oil economy and the deployment of nationals in the Gulf