Iran assigns multibillion credit to construction projects in country
TEHRAN, Iran, May 29
Iranian Plan and Budget Organization (PBO) has assigned $7.4-billion credit to national and local construction projects that have priority in current Iranian year (began March 20, 2020), said the head of PBO.
"The credit was allocated to facilitate construction works and implement production leap in the country," said Mohammad Bagher Nobakht, Trend reports citing IRNA.
"These credits include $519 million for national construction plans, $398 million for special provincial plans, $1.4 billion for provincial projects and additional $361 million various credits for border watershed plan," he added.
"Most construction projects will be commissioned by the end of current Iranian year contributing to production leap, employment growth, and national and regional development," he said.
Earlier, Iranian Plan and Budget Organization has announced that it would also provide resources for railway projects that are of priority, while the government is to offer shares of Tehran-Mashad railway electrification project and 12 other road and railway projects on stock exchange to finance them.
The construction of Chabahr–Zahedan railway will also be financed by the National Development Fund, which invests 3 million euros in the project.