The Saudi-based Islamic Development Bank (IDB) has accorded Iran a $34-million loan, Iran's official IRNA news agency said on Tuesday, March 27.
Citing an economic ministry statement, it said the IDB loan would be used to build a sewer system in the western city of Hamedan.
The loan is repayable over 12 years at six percent interest, with a 15 percent reduction in interest charges if the payment is completed on time, IRNA said. — (AFP, Tehran)
© Agence France Presse 2001
© 2001 Mena Report (www.menareport.com)