NDFI Approves $10b to Control Border Waters

NDFI Approves $10b to Control Border WatersNDFI Approves $10b to Control Border Waters

A total of $10 billion will be allocated by the National Development Fund of Iran to restrain border waters, pursuant to the authorization issued by the Supreme Leader Ayatollah Seyyed Ali Khamenei, IRNA reported.

Bordering water resources will be restrained and then distributed for agricultural purposes over the course of four years, Safdar Hosseini, head of the NDFI, said in the administrative council of Kurdistan Province, in Sanandaj, during a meeting also attended by First Vice President, Eshagh Jahangiri.

It has been decided for the fund to be allocated to 10 provinces separately, while share of the budget and returns for each province vary from that of the others, Hosseini said, adding that there are no constraints on provision of foreign exchange finances for the 10 provinces.

The money will be used to help enhance irrigation and drainage networks near the country's border rivers, and improving border water management systems.

The NDFI was established, based on Article 84 of the Fifth Five-Year Economic Development Plan (2011-2016), to transform oil and gas revenues to productive investment for future generation.