TM to Offer $110m Bonds 

Tehran City Council has ratified a motion allowing Tehran Municipality (TM) to raise 35 trillion rials ($110.4 million) in participatory bonds for streamlining public transportation in the current fiscal year that ends next March.
Meysam Mozaffar, head of the Tehran City Council’s budget committee, made the announcement after a meeting of the TCC on Sunday, ISNA reported.
Mozaffar said “21 trillion rials ($66.2 million) is to be used for completing the construction of subway lines and 5 trillion rials ($15.7 million) for overhauling the public transportation network.”