IDB Okays €20m Loan for Iran Railway

1 September 2009 (Last Updated September 1st, 2009 18:30)

The state-owned Islamic Republic of Iran Railway is to receive a €20m loan from the Islamic Development Bank (IDB). The money will be used to expand the railway's transportation fleet and to develop related infrastructure. The loan will also help accelerate the ongoing projects be

The state-owned Islamic Republic of Iran Railway is to receive a €20m loan from the Islamic Development Bank (IDB).

The money will be used to expand the railway's transportation fleet and to develop related infrastructure.

The loan will also help accelerate the ongoing projects being undertaken by the railway.

Iran is one of the 56 members of IDB, a financial institution established by the Conference of Finance Ministers of Muslim Countries in 1973.