Iran says IDB offers $34-million loan

Published March 28th, 2001 - 02:00 GMT

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)

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