The Ministry of Roads and Urban Development has started the process of establishing Transportation Development Fund with an initial capital of 190 trillion rials ($1.5 billion) to finance infrastructure projects in the sector.
During a meeting held early this week, the Cabinet approved the outline for the launch of the fund and allocated the capital, entrusting the Roads Ministry with the task of implementing all related measures, Mehr News Agency reported.
The fund will be utilized to provide incentives in national and foreign currencies to investors in transportation projects and to guarantee the repayment of investments. It will also facilitate knowledge-based companies' investment in the transportation sector.
Reportedly, the fund will be governed by a board of trustees comprising representatives from the ministries of roads and economy, along with the head of Plan and Budget Organization.
July 31, 2019 16:58
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Iran to Launch $1.5 Billion Transportation Development Fund
With an initial investment of 190 trillion rials ($1.5 billion), a fund is to be established by Iran’s Roads Ministry to provide incentives in national and foreign currencies to investors in transportation projects
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