Iran seeks foreign investment to save Lake Urmia

Business Materials 26 January 2018 10:50 (UTC +04:00)
Iran seeks foreign investment to save Lake Urmia

Baku, Azerbaijan, Jan. 24

By Khalid Kazimov – Trend:

Iran plans to obtain $3 billion in loan from foreign sources to finance projects for reviving Lake Urmia, a provincial official said.

The governor general of West Azerbaijan Province, Mohammadmehdi Shahriari, has said that President Hassan Rouhani has agreed with the plan to finance the project for reviving the lake through foreign sources, IRNA news agency reported.

Iranian officials have already launched talks with several foreign investors regarding the lake, he added.

Mohammadmehdi Shahriari expressed hopes that the foreign finance would facilitate the efforts to save the saltwater lake.

The lake’s volume has dropped to less than 10 percent of its original and the situation is getting worse day by day.

Climate change, unrestrained damming and excessive water use, especially in the agriculture sector are said to be among the main reasons behind the depletion.

The lake is marked by more than 100 small rocky islands that are stopover points on the migration route of various waterfowls, including flamingos, pelicans, spoonbills, ibises, storks, stilts and gulls.