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World Bank to grant Iran $250m loan

Press TV -- The World Bank has agreed to grant the Islamic Republic a $250-million loan in the coming Iranian year, Iran's Minister of Energy says.

Announcing the agreement with the World Bank on the $250-million loan, Parviz Fattah said that out of the $650 million Iran has so far received from the bank for the country's water and sewage sector, about 48 percent has already been absorbed for the related projects.

Iran was also granted a $36-million loan by the Islamic Development Bank for the development of sewage systems in eight Iranian cities, of which 58 percent has been absorbed, Fars New Agency quoted him as saying.

3 billion dollars in hard currency has been absorbed by the Energy Ministry for various projects, including $2.1 billion for electricity generation and construction of power plans by the private sector, Fattah said, adding that the funds disbursed for the water sector so far amounted to $900 million, while $500 million is in the pipeline for the next year.

... Payvand News - 03/10/08 ... --

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