Islamic Development Bank to allocate 144 million euros for wastewater projects in Iran
Baku, Azerbaijan, Feb. 20
By Umid Niayesh - Trend:
The Islamic Development Bank (IDB) will allocate a 144 million euro loan for wastewater projects in the Iranian southern Fars province, managing director of the Iran's Water and Wastewater Company, Hamid Reza Janbaz said, the country's IRNA news agency reported on Feb. 20.
Janbaz went on to say that the IDB and the Fars province's Water and Wastewater Company have signed a memorandum of understanding on the issue.
The company will implement wastewater projects in the Darab, Fasa, Sepidan, Abadeh, Neiriz and Firouzabad cities of the province using the IDB`s loan, he added.
The IDB has allocated some 800 million euros of loans in total for Iran's water and wastewater projects, Janbaz said, adding that from that amount 65 million euros was allocated to eastern Mashhad city's wastewater project, 140 million euros for projects in the cities of Qom and Kashan in central Iran, 175 million euros to Tehran, 195 million euros to rural wastewater projects and 92 million euros to Qom province's water project.
Janbaz remarked that earlier Iran received some 80 million euros for the implementation of wastewater projects in Hamedan and Qeshm.
The IDB has paid more than 3 billion euros to Iran for implementing its projects so far, of which 70 percent were spent on dam building and water and wastewater projects of the energy ministry, head of the Organization for Investment and Economic and Technical Assistance of Iran, Behrouz Alishiri said.
The Islamic Development Bank is a multilateral development financing institution which was founded in 1973 by the Finance Ministers at the first Organisation of the Islamic Conference (now called the Organisation of Islamic Cooperation).
There are 56 shareholding member states. Iran holds some 9.32 percent of the Bank's share.
The purpose of the Bank is to foster the economic development and social progress of member countries and Muslim communities individually as well as jointly in accordance with the principles of Shariah i.e., Islamic Law.
Edited by C.N.