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$1.7b Fund to Help Expand Transport Network in Iran

$1.7b Fund to Help Expand Transport Network in Iran
$1.7b Fund to Help Expand Transport Network in Iran

The government is mulling a national transportation development fund with an initial investment of 200 trillion rials ($1.75 billion), the Roads Minister Mohammad Eslami said.
During a visit to the city of Incheh Borun in northeastern Golestan Province on Friday, Eslami said, “The development fund will contribute to the expansion of transport infrastructure.”

The fund will be responsible for spending and the expansion plans. Eslami said the statute and strategy of the fund “have been ratified by the government.”
A mechanism has also been devised that enables private companies to collaborate with the fund and contribute to transport infrastructure development.
The Majlis approved a bill for establishing the special fund in July 2016 to provide funding for transport expansion and attracting investments.
Assisting the payment of government bills for maintenance of transportation infrastructure, payment of the subsidized loans for road renovation projects, providing letters of guarantee to investment firms, issuing credits and bonds specifically to help finance transport projects are some of the responsibilities of the fund as outlined by parliament.
 

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