Economy, Domestic Economy

Transport Development Fund Established

Transport Development Fund EstablishedTransport Development Fund Established

The Ministry of Roads and Urban Development has approved a proposal for the establishment of Transport Development Fund, which is aimed at facilitating private sector investment in the transportation sector. The fund will be utilized to provide incentives in national and foreign currencies to investors in transportation projects and to guarantee the repayment of subsidized loans by investors, Mehr News Agency reported on Monday. Assisting the payment of government dues toward maintenance of transportation infrastructure, payment of subsidized loan for road renovation projects, giving letters of guarantee to investors and issuing debts and bonds to help finance transportation projects are other activities that will be carried out by the Transport Development Fund.