ECO Bank finances €4m water project in Iran

The Economic Cooperation Organization Trade and Development Bank (ECO Bank) has allocated €4 million to a land irrigation project in western Iran
Some 20,000 hectares area of lands in the region will be irrigated.

In March, the Islamic Development Bank and the ECO Bank allocated €377 million to Iran’s water and wastewater projects.

The Economic Cooperation Organization Trade and Development Bank is a multilateral development bank (MDB) established on August 3, 2005 by Iran, Pakistan and Turkey.

The Bank contributes towards the medium and long-term financing needs of the region and thereby helps to promote sustainable development and regional integration in both the public and private sectors. It also aims to become an important institutional vehicle for mobilizing funds in international capital markets for the region’s development needs.