80pc funds....to be allocated to semi-finished development plans
Iran approves $5.5bn to fund development projects
TEHRAN, March 2, 2015
Iran has approved a bill to issue 150 trillion rials ($5.5 billion) to fund national development projects, according to a report.
The fund will be used to implement oil and gas projects as well as complete semi-finished development plans, said the Tehran Times report.
The projects include development of joint oil and gas fields, the expansion of public transportation fleet, the establishment of water and wastewater treatment facilities as well as power plants, and the construction of sport complexes, it said.
“We will allocate the lion’s share of the national development budget to completing the projects which are done by over 80 per cent,” Mohammad-Baqer Nobakht, Iranian Government spokesman, was quoted as saying.