Tehran town Council has sanctioned the issuance of participatory bonds well worth three hundred trillion rials ($2.4 billion) via the municipality to provide the necessary funds for the enlargement of the capital’s subway network.
Subsequently, ISNA stated that after today's assembly of Tehran town Council on Sunday, Tehran Mayor Pirouz Hanachi proclaimed that the municipality has been permitted to issue participatory bonds of three hundred trillion rials ($2.4 billion) value.
“This funding could be used for the objective of repairing and improving Tehran’s public transportation network, particularly its subway and public bus fleet,” he stated.
"two-thirds of the fund raised via providing participatory bonds could be spent on the development of incomplete subway lines within Tehran and the rest of that fund could be spent on streamlining the city's bus transportation fleet."
Hanachi mentioned that thinking about the economic hardships facing Tehran Municipality, the recent choice will help with promoting Tehran’s public transportation system.