Azerbaijan, Baku, Nov.5 /Trend G.Mehdi/
Iranian Roads and Urban Development Ministry has paid some 40 trillion rials (about $3.3 billion) since the beginning of the current Iranian calendar year (began on March 20), to renovate old buildings in urban areas, the Mehr News Agency quoted deputy minister Majid Kianpour as saying.
He added that the sum grew by about 30 percent compared to the same period in last year.
In 2010, the Iranian parliament(Majlis) approved a bill, based on which the Central Bank was required to allocate at least 25 percent of low-interest bank facilities related to the housing sector for the refurbishment and reconstruction of old buildings.
The Majlis also instructed the administration to spend some $1 billion annually as part of the national yearly budget for refurbishment and reconstruction on old structures.
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