World Bank grants 225 million dollars for Iran's quake-hit areas

from Xinhua
Published on 09 Nov 2002
TEHRAN, Nov 9, 2002 (Xinhua via COMTEX) -- The World Bank will extend 225 million US dollars to Iran for the reconstruction and economic rehabilitation of areas affected by the June 22 earthquake, the state-run IRNA news agency reported on Saturday.

The World Bank will grant the credit to the departments of the Iranian Interior Ministry in the quake-hit zones -- the provinces of Qazvin, Zanjan and Hamedan.

The fund is provided within the framework of development and infrastructure projects, and the Iranian government has guaranteed the full reimbursement of the credit, the report said.

The credit will be provided in two sections and allocated to the reconstruction and economic rehabilitation of the quake-hit area. The projects are due to be completed in three years at the latest.

The June 22 earthquake in the provinces inflicted great material and human loss. Over 300 people were killed and 25,000 people displaced, and dozens of villages were destroyed.

Copyright 2002 XINHUA NEWS AGENCY.

Copyright (c) 2002 Comtex News Network
Received by NewsEdge Insight: 11/09/2002 13:06:33