The Islamic Development Bank approved a 170 million-euro ($210 million) loan for wastewater plant upgrades in Iran's capital, the Tehran Times reported, citing Tehran Water and Wastewater Co.'s managing director, reported Bloomberg.
The loan will be used to establish a sewage treatment plant in western Tehran, the executive, Mohammad Parvaresh, said without elaborating, according to today's report. The greater Tehran area has a population of about 12 million.
Iran received a $50 million World Bank loan in October to help develop wastewater projects in northern Iranian cities, the paper cited Mehdi Samareh-Hashemi, managing director of the Iran Water and Wastewater Engineering Co., as saying.