According to the daily 'Tehran Times', the project will be carried out by the World Bank's supervision aiming to remove risky points on roads in an attempt to minimize numerous accidents taking place annually leaving hundreds of people dead and wounded.

By granting the loan, the bank intends to encourage the Iranian government to improve safety conditions in roads.

However, before the contract between the bank and Iranian officials is finalized, the target indexes for reducing road accidents in the country should be materialized, the paper said.

The World Bank aims at creating an authoritative organization to secure lives in Iranian roads by granting financial and political support.

The bank also aims to create an efficient and coherent system of management of national and municipal roads, noting that a move to impeach the current roads and transportation minister is underway in the Iranian parliament.

According to the daily, the high rate of road accidents in the country has been blamed on the ministry and municipalities and the move is aimed at fulfilling the requirements of the bank, which is in charge of the execution of the plan before the contract with the Iranian government is signed.