29 January 2012
The Islamic Development Bank (IDB) will invest in the construction projects, said the bank's representative in Iran.
Speaking in a ceremony to sign an agreement between the bank and Hormuzgan Regional Water Company on Saturday, Ali Fallahi said the investment, which amount to $3 billion, will be made in the next three years, IRNA reported.
He noted that based on earlier plans, his bank is to invest $650 million in four basic construction projects in the Islamic Republic of Iran in 2012.
Managing director of Hormuzgan Regional Water Company, Jaafar Zir-Rahi, said the financial aid which is to be provided by IDB will accelerate the completion of development projects in his province.
According to the agreement, IDB will allocate €87 million for building a dam in the southern city of Minab.
The Islamic Development Bank (IsDB) is a multilateral development financing institution located in Jeddah, Saudi Arabia.
The bank officially began its activities on October 20, 1975. There are 56 shareholding member states.
On the basis of paid-up capital, the main shareholders of the bank are from Saudi Arabia, Libya, Iran, Egypt, Kuwait, Turkey, Qatar and UAE.
The Islamic Development Bank (IDB) will invest in the construction projects, said the bank's representative in Iran.
Speaking in a ceremony to sign an agreement between the bank and Hormuzgan Regional Water Company on Saturday, Ali Fallahi said the investment, which amount to $3 billion, will be made in the next three years, IRNA reported.
He noted that based on earlier plans, his bank is to invest $650 million in four basic construction projects in the Islamic Republic of Iran in 2012.
Managing director of Hormuzgan Regional Water Company, Jaafar Zir-Rahi, said the financial aid which is to be provided by IDB will accelerate the completion of development projects in his province.
According to the agreement, IDB will allocate €87 million for building a dam in the southern city of Minab.
The Islamic Development Bank (IsDB) is a multilateral development financing institution located in Jeddah, Saudi Arabia.
The bank officially began its activities on October 20, 1975. There are 56 shareholding member states.
On the basis of paid-up capital, the main shareholders of the bank are from Saudi Arabia, Libya, Iran, Egypt, Kuwait, Turkey, Qatar and UAE.
© Iran Daily 2012
