Iran expects €4bn foreign finance for water, electricity projects

MNA – Energy Minister Reza Ardakanian said Tue. that Iran expects €4 billion foreign finance from international development banks to fund the country’s water and electricity projects.

Speaking at the 12th International Energy Conference currently underway in Tehran, the energy minister said Iran has so far begun or finished projects worth over 2 billion euros by attracting finance from development banks such as the Islamic Development Bank, the ECO Trade and Development Bank (ETDB), and the Asian Infrastructure Investment Bank.

He said the country expects to attract over four billion euros from these banks to launch new water and electricity projects.

“We have also absorbed over 2.7 billion euros of foreign finance for water reclamation plans, increasing efficiency of power plants, and many other infrastructure projects,” Ardakanian added.

According to him, Iran has always supported international activities in line with reducing greenhouse gas emissions and the impact of climate change.

He noted that the country has defined voluntary programs for reduction of greenhouse gas emissions by 12% within the framework of the Kyoto Protocol and Paris Agreement.