Azerbaijan, Baku, Jan. 17 /Trend S.Isayev, T. Jafarov/
The Islamic Development Bank has granted a loan of 125 million Euros to a regional electricity company in Iran, IRNA reported.
Azarbaijan regional power company provides Iran's provinces of East Azarbaijan, West Azarbaijan and Ardebil with electricity.
The company's president Ali Baharband said the company has requested for a loan, for launching 8 electricity infrastructure projects in the abovementioned provinces.
According to the agreement, the loan has been given for 4 years, after which, the company would be returning the loan every 6 months.
The new projects that are to be funded by the given loan would include building new power stations and high voltage and transmission lines in East Azarbaijan, West Azarbaijan and Ardabil provinces.