Iran planning to boost credit line for dam projects

- Monday, March 14, 2011

Iran planning to boost credit line for dam projects

The government of Iran is planning to boost its credit line to Bolivia to help the South American country build more dams, among other projects, state news agency ABI reported.

"During the meetings and visits we've had, based on Bolivia's topography, we've come to a conclusion that the country has a very good capacity to build dams and that we could increase our cooperation in this area," said Iran's deputy foreign relations minister, Behrouz Kamalvandi.

In 2007, Iran committed to investing at least US$1.1bn in Bolivia. Last year, the government extended a 200mn-euro (US$280mn) credit line, which it may now expand.

Start your 15 day free trial now!

cta-arrow

Already a subscriber? Please, login

Iran ranks third globally among dam-building nations, with over 430 dams, Kamalvandi added.