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Municipalities Can Issue $1.9b Worth of Bonds Next Year

Municipalities Can Issue $1.9b Worth of Bonds Next YearMunicipalities Can Issue $1.9b Worth of Bonds Next Year

The municipalities of Iranian metropolises are allowed to issue up to 80 trillion rials ($1.9 billion) of bonds in the next fiscal year (started March 21) based on the new budget bill presented to the parliament on Sunday, Tehran Mayor Mohammad Ali Najafi announced on Monday. “The funds will be used to develop urban projects, mainly in the rail transportation sector,” Najafi was quoted as saying by IRNA. As per the budget bill, the government will help the municipalities repay half of the face value as well as the interest of bonds issued for the development of transportation sector.

 

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