Tehran Municipality has recently issued participatory bonds worth 15 trillion rials ($68.1 million) to help expand the capital’s public transportation system, the head of Tehran City Council’s Transportation Commission said.
Mohammad Alikhani also told semi-official news agency YJC that the city council acquired the permit to issue participatory bonds last year.
In August 2019, Tehran Mayor Pirouz Hanachi announced that the municipality was allowed to issue 300 trillion rials ($1.36 billion) worth of participatory bonds for overhauling Tehran’s public transportation network, especially its subway and public bus fleet.
“Of the total amount, the bank paid only a small portion to the company, leaving the rest for the last days of the issuance period,” Alikhani said.
July 25, 2020 17:05
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Tehran Issues $68m Participatory Bonds to Finance Public Transport
The unfinished subway network in the capital city of Tehran needs 2 quadrillion rials ($9.09 billion) for the construction of unfinished lines, purchase of train cars and standardization of equipment
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