Iran Gets $210 Million Loan for Water Project, Times Says

The Islamic Development Bank approved a 170 million-euro ($210 million) loan for wastewater plant upgrades in Iran’s capital, the Tehran Times reported, citing Tehran Water and Wastewater Co.’s managing director.

The loan will be used to establish a sewage treatment plant in western Tehran, the executive, Mohammad Parvaresh, said without elaborating, according to today’s report. The greater Tehran area has a population of about 12 million.

Iran received a $50 million World Bank loan in October to help develop wastewater projects in northern Iranian cities, the paper cited Mehdi Samareh-Hashemi, managing director of the Iran Water and Wastewater Engineering Co., as saying.

To contact the reporter on this story: Ladane Nasseri in Dubai at lnasseri@bloomberg.net

To contact the editors responsible for this story: Randall Hackley at rhackley@bloomberg.net; Andrew J. Barden at barden@bloomberg.net

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