$2b non-repayable loans allocated to rebuild flood-hit houses

April 24, 2019 - 22:40

TEHRAN – Non-repayable loans amounting to 90 trillion rials (nearly $2 billion) will be provided for reconstruction of housing units in the provinces hit by flood, Abdolreza Rahmani Fazli, Minister of Interior, has announced.

“Recent flood damage to the whole country is estimated at about 350 trillion rials (about $8.5 billion), he stated,” IRNA reported on Monday.

He went on to say that some 180,000 housing units have been devastated by flood, 56,000 of which are beyond repair requiring renovation, adding, damaged houses in Khuzestan province have not been counted yet due to unfavorable conditions.

The government is trying to renovate and retrofit the houses, so, a total budget of 90 trillion rials (nearly $2 billion) will be granted as non-repayable loans, he said, adding that some 150 trillion rials (around $3.5 billion) will also be allocated as low-interest loans.

“It is planned to provide at least 40 percent of the budget within the next three months,” he added.

Some 20,000 housing units will be repaired by the Imam Khomeini Relief Foundation and the Welfare Organization takes measures toward retrofitting another 10,000 flood-hit houses, he further noted.

“We are trying to compensate for the whole damages which is mainly renovation of housing units by the next year,” he concluded.

Extreme rainfall, starting on March 19, has caused flooding in 28 out of 31 provinces affecting 42,269,129 inhabitants in 253 cities and causing widespread damage to houses, municipal facilities, including roads, sewage systems, health centers, hospitals, etc.