The Saudi-based Islamic Development Bank (IDB) has granted Iran a $34-million loan, reported Iran's official news agency, IRNA, yesterday, March 27.
The loan, which will serve to build a sewer system in the western city of Hamedan, will be repayable over 12 years, and will carry a six percent interest rate. A 15 percent reduction in interest charges will be granted if the payment is completed on time, the agency said. — (Albawaba-MEBG)
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