Iran News ...


6/6/03

World Bank approves $180M loan to Iran for earthquake recovery plans

The World Bank on Thursday announced the approval of a Dlrs 180 million loan to help the Islamic Republic recover from two major earthquakes that wreaked havoc in its western provinces last year, IRNA reported from Washington.

Massoud Mazini, Iran's representative at the World Bank, said the bank's Board of Directors had approved the loan to finance Iran's efforts to rebuild communities damaged by devastating earthquakes that shook the province of Kermanshah in April 2002 and the provinces of Qazvin, Hamedan and Zanjan in June 2002.

Mazini said the loan will be disbursed to Iran with a maturity of 17 years and a five-year grace period.

He added that the loan would be used for restoring the normal functioning of urban facilities, for building schools and hospitals, and for the transfer of expertise knowledge, including earthquake insurance strategies.

At least 200 villages were destroyed and 25,000 people displaced when an earthquake measuring six degrees on the Richter scale jolted the northwestern and western provinces of Qazvin, Hamedan and Zanjan on June 22, 2002.

Also, an earthquake measuring 4.9 degrees on the Richter scaled destroyed 3,000 houses in the western province of Kermanshah last April.

... Payvand News - 6/6/03 ... --



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