All tagged Gholamreza Tajgerdoun

Iran Will Need to Tap Wealth Fund for Flood Damage

◢ Flood damage in western Iran exceeds the government’s budget for disaster relief and officials will have to tap the country’s sovereign wealth fund to cover reconstruction costs, the semi-official Iranian Students’ News Agency reported. Around IRR 9.5 trillion—equivalent to USD 230 million at Iran’s official exchange rate—of damage has been caused to agricultural fields in the southwestern province of Khuzestan alone.