Economy, Business And Markets

Bigger Budget for Upgrading Iran's Informal Settlements

Bigger Budget for Informal SettlementsBigger Budget for Informal Settlements

Iranian government has proposed the allocation of 4.7 trillion rials ($145.8 million) for upgrading informal settlements on the outskirts of urban areas in the annual budget for 2017-18, said Mohammad Saeid Izadi, deputy minister of roads and urban development.

The official noted that the budget was 370 billion rials ($11.4 million) for the current fiscal year (started March 20), Roads Ministry’s news service reported on Monday.

The deputy minister noted that enhancing the living condition at city margins are of high importance for the government as “about 19 million people are living in informal settlements near large cities”.

Izadi added that the ministry is working on plans to utilize charities and private sector’s potentials for renovating distressed areas near cities.



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