Islamic Development Bank signs $7.3 million loan agreement with Chad

Published June 18th, 2001 - 02:00 GMT

The Islamic Development Bank agreed to loan Chad $7.3 million for the purpose of educational projects, reported AFP news agency on Monday, June 18. The loan raises the total funds loaned by the bank to Chad to $69 million. 

 

The loan is to finance the construction and expansion of schools in Chad, in addition to the development of a French-Arab bilingual training system for school teachers in the country. 

 

The Islamic Development Bank is an organization that grants loans to Islamic countries under very low interest rates, abiding Islamic law. — (MENA Report) 

 

© 2001 Mena Report (www.menareport.com)

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