Economy, Business And Markets

$320m IDB Loan for Iran Project

$320m IDB Loan for  Iran Project$320m IDB Loan for  Iran Project

The Islamic Development Bank is set to allocate €281 million ($320 million) for a project to develop wastewater networks in Mazandaran Province, the managing director of Mazandaran’s Water and Wastewater Company said. “With the implementation of this project, cities of Qaemshahr, Amol, Mahmoudabad and Ramsar will have urban sewage systems,” Zabihollah Zakeri was also quoted as saying by IRNA. He credits the implementation of the nuclear accord as the driving force behind the funds. The official added that the approved loan will be allocated to the project early next year that starts in March 2018. According to Zakeri, 478,000 people, who constitute 25% of the province’s urban population, will benefit from this project.

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