Islamic Development Bank offers Iran $34 million loan

Published March 28th, 2001 - 02:00 GMT

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) 

© 2001 Mena Report (www.menareport.com)


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