$13m in Compensation for Iran's Mazandaran Flood Losses

EghtesadOnline: Iran government has extended 1.99 trillion rials ($13 million) worth of financial assistance to Mazandaran for losses caused by last month’s floods in the northern Iranian province.

News ID: ۷۸۴۳۰۶

10 November 2018

“Some $1.5 million were granted to people and farmers who incurred losses as a result of the floods. Moreover, $3.5 million and $2.6 million were dedicated to the reconstruction and restoration of urban and rural infrastructure respectively. Around $5.7 million worth of banking facilities with a 4% interest for rural and 5% interest for urban residents are also being extended to locals,” Mazandaran Deputy Governor General Ali Nabiyan was quoted as saying by IRNA.

Devastating floods swept the northern provinces of Gilan, Mazandaran, Golestan and North Khorasan on Oct. 5 and 6, claiming the lives of at least eight people.

Torrential rains, which were reportedly the heaviest over the last 17 years, overflew rivers, washed away bridges, inundated houses and destroyed infrastructure, according to Financial Tribune.