BAKU, Azerbaijan, September 27. The National Development Fund of Iran is estimated to allocate $2 billion to finance the construction of residential buildings in Iran, the head of Iran's Plan and Budget Organization Davoud Manzoor told reporters after the meeting of the Cabinet of Iran on Sept. 27, Trend reports.
Reportedly, the National Development Fund of Iran is directly under the control of the Supreme Leader of Iran, Ayatollah Ali Khamenei. The allocation of funds from this fund is carried out with the permission of the leader.
According to Manzoor, the current government of Iran (which came to power in August 2021) aims to build 1 million countrywide apartments per year in Iran. In this direction, taking money from the National Development Fund will help to overcome the financial shortage for construction.
The official noted that the money to be allocated by the National Development Fund of Iran will be given to the Iranian Roads and Urban Development Ministry.
He added that the Roads and Urban Development Ministry of Iran will provide more details about further expenditures.
The current government of Iran has planned to provide 4 million apartments in the country within the framework of the National Housing Action Plan.
According to the Ministry of Roads and Urban Development of Iran, by the middle of 2022, the area for the construction of 2.8 million apartment buildings has been allocated.
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