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CDB pledges EUR 420 million loan for Tabriz Metro Line 2 Project (Linked to Record ID#67067)
| Funder | China Development Bank (CDB) |
|---|---|
| Recipient Organization | Government of Iran |
| Country | Iran |
| Start Date | Sep 16, 2017 |
| End Date | May 23, 2030 |
| Duration | 4,632 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 101632 |
Grant Description
CDB pledges EUR 420 million loan for Tabriz Metro Line 2 Project On September 16, 2017, the Chinese Government and the Government Iran signed a MOU for EUR 15 billion in financing for various infrastructure projects (as captured via Record ID#67067). One project the MOU reportedly financed was the Tabriz Metro Line 2 Project.
The Iranian government allocated EUR 420 million from the Chinese fund for this project. The new subway was to include 20 stations and be 22.4 kilometers long.
Reports of the Chinese finance first appeared in 2022, and the funding was described as approved and awaiting the signature of the first vice president.
However, as of February 2024 the Chinese allotment was described as finalized with allocation in starting in March 2023. Construction started in 2013 and was done by Khatam-al-Anbiya, a state-owned construction firm controlled by the IRGC. On July 10, 2022, the Tabriz mayor announced that the project would be completed in summer 2024.
Staff Comments
1. No details were found regarding loan details.
Sources & References
Iran provides financing for construction of subway line in Tabriz from Chinese bank, احداث خط ۲ متروی تبریز با فاینانس چینی/ سرمایهگذاران ترکیهای ۳ هتل در تبریز میسازند, اختصاص ۴۲۰ میلیون یورو اعتبار به خط ۲ متروی تبریز, شهردار: فاز یک خط ۲ قطارشهری تبریز تا ۲ سال آینده بهره برداری میشود, احداث ایستگاههای خط ۲ متروی تبریز آغاز شد, نقشه مترو, زمان حرکت قطار در فاز اول خط ۲ متروی تبریز اعلام شد, شورای اقتصاد مجوز استفاده از تامین اعتبار خارجی خط ۲ مترو تبریز را ابلاغ کرد, ابلاغ تخصیص ۳ میلیارد و ۳۰۰ میلیون یوان فاینانس احداث خط ۲ مترو تبریز, فاز 2 مترو تبریز روی میز دولت چین, مشارکت شرکت چینی برای اجرای ۲ خط مترو در تبریز Loan applications and disbursements are still being received and processed as the projects continue to evolve. Ongoing monitoring and evaluation are in place to ensure project continuity.
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Government of Iran
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