On December 13, 2010, the ECO Trade and Development Bank signed an agreement for extending a loan of EUR 16.89 million for the Siazakh Irrigation Project in Sanandaj, a city in the western part of Islamic Republic of Iran. The loan will be issued to Regional Water Authority of Iran (KRWA) with a government guarantee and will provide long term investment finance for the project.

The Project includes construction and installation of pumping stations and allied piping infrastructure for the area over 7000 hectares. The primary aim of the Siazakh Irrigation Project is to increase the food quality and quantity in the region by producing new value added crops. As a multi dimensional project, it is expected that the employment generation, living standards and welfare of the population will also be increased in the project area.