|Iran to issue $2b in bonds to fund development projects||
TEHRAN – Iran will issue 50 trillion rials (about $2 billion based on the USD official exchange rate of 24,800 rials) worth of bonds in the current Iranian calendar year to finance development projects, MP Gholmreza Kateb stated.
The administration and the parliament have agreed to issue the bonds to complete the implementation of a number of development projects nationwide, IRIB quoted Kateb as saying.
The current Iranian year began on March 21, 2013.
The Central Bank of Iran has been authorized to issue 392 trillion rials (about $16 billion) in bonds to finance development plans in the current Iranian calendar year, the Fars News Agency reported in June.
According to the current year’s national budget law, 150 trillion rials should be invested in the development of joint oil and gas fields, the establishment of water and wastewater treatment plants, and power stations in underdeveloped regions.
Ministries of energy, oil, roads and urban development, defense, telecommunications and information technology, industry and trade, and agriculture were allowed to issue the bonds.
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