Transportation Development Fund Approved
The parliament approved the bill for the establishment of Transportation Development Fund. This fund will provide financial resources for developing transportation infrastructure and attracting investments.
Ministry of Roads and Urban Development is allowed to set up the TDF with an initial investment of 10,000 billion rials ($285.71 million at market exchange rate) out of its own resources and 190,000 billion rials ($5.42 billion) out of government budget.
The fund will be governed by a board of trustees including Minister of Roads and Urban Development, Abbas Akhoundi, Minister of Economic Affairs and Finance Ali Tayyebnia, and the head of Management and Planning Organization of Iran, Mohammad Baqer Nobakht.