The Leader of the Islamic Revolution Ayatollah Seyed Ali Khamenei has issued an order to withdraw a sum of $500 million from the country’s sovereign wealth fund for development projects in the southeastern province of Sistan and Balouchestan.
Speaking on the sidelines of a military event on Monday, Iran’s Parliament Speaker Ali Larijani unveiled plans for withdrawal of $500 million from the National Development Fund of Iran (NDFI) on the Leader’s orders for development of the underprivileged province.
The NDFI was established in 2011 to supplement the Oil Stabilization Fund, and is independent of the government’s budget.
The $500 million in investment for development of Sistan and Balouchestan is expected to strengthen the border province’s infrastructures.
Located in southeast of Iran, the large province borders Pakistan and Afghanistan, and has a long coastline by the Sea of Oman.
The desert province grapples with severe water shortage, particle pollution, underdeveloped infrastructure and transit of illicit drugs.
(Source: Tasnim, under Creative Commons licence)