Majlis Allows Banks to Invest $3b in Megaprojects

The specialized and commercial Iranian banks were allowed by Majlis to extend financial facilities worth a maximum $3 billion to finance development plans and key infrastructures. 
The decision is part of the government’s 2020-21 fiscal budget currently being reviewed by lawmakers, the parliamentary news website ICANA reported. 
Accordingly, banks can directly lend to domestic investors or participate in funding projects. The lending can be both in rial and foreign currency.