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Iran's Ministry of Economy and Finance to sell $1.2B participation bonds

Tehran, April 18, IRNA -- Iran's Ministry of Economy and Finance will issue up to rls 10,000 billion (about 1.2 billion dollars) worth of participation bonds this year per a cabinet approval to finance water, transportation and development projects.

The cabinet approval authorizes the ministry under the note 21 of this year's budget law to deposit the revenue gained from the sale of bonds with the treasury account of the Central Bank of Iran in order to finance implementation of a group of water and development projects.

Under the approval, rls 2,000 billion will be spent on road and transportation projects, rls 2,500 billion on development of water resources and rls 5,500 billion on other projects.

... Payvand News - 4/18/04 ... --

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