At its latest meeting, the Islamic Development Bank (IDB) approved a loan of 100 million Euros to help finance the development of the factories of Iran's Khodro Company, one of the biggest automobile companies in Iran and the Middle East.
A statement issued here today by the Iranian Ministry of Economy and Finance said the IDB approved a loan of 60 million Euros directly for Iran's Khodro motor manufacturing company to develop its projects to double production of the Peugeot 206 and to set up two factories for car production of Samand Company in Egypt and Syria with annual capacities of 20,000 and 15,000 cars respectively. IDB will provide 40 million euros to cover the costs of the two factories.
At the same time, IDB signed in Tehran an agreement to offer a loan of 30 million Euros for Iranian Saha Company for manufacturing medical equipment.
A delegation of the IDB is scheduled to visit Iran this month to evaluate the financing of some parts of the project of building western Iran railways.
Source: SPA
