Iran’s National Bank pays $42.8M to speed up Ardabil railway project
Baku, Azerbaijan, Jan. 3
By Elnur Baghishov - Trend:
The Bank Melli Iran (BMI) (National Bank of Iran) has allocated 7.5 trillion rials (about $178 million) of domestic financing for the construction project of the railway in Ardabil province, the bank’s Managing Director Mohammad Reza Hosseinzadeh said, Trend reports via IRNA.
So far, 1.8 trillion rials (about $42.8 million) have been allocated, he said.
He noted that 800 billion rials (about $19 million) of this amount were paid in the 7th month of the current Iranian year (started March 21, 2018) and 1 trillion rials (about $23.8 million) were paid Jan. 2.
He said the bank continues to support production and industrial units to boost economic growth and employment.
“If the investors have good projects, the bank is ready to support them,” he noted. “Even if necessary, state banks can support investors in the form of a consortium.”