The parliament has approved the bill for the establishment of the so-called Transportation Development Fund to provide sustainable financial resources for expanding transportation infrastructure and attracting investments. Now the Ministry of Roads and Urban Development is allowed to set up the TDF with an initial investment of 10,000 billion rials ($285.71 million at market exchange rate) out of its own resources and 190,000 billion rials ($5.42 billion) out of government budget, Mehr News Agency reported. The fund will be governed by a board of trustees comprising Minister of Roads and Urban Development Abbas Akhoundi, Minister of Economic Affairs and Finance Ali Tayyebnia and the head of Management and Planning Organization of Iran, Mohammad Baqer Nobakht.
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