Islamic Finance

Iran says World Bank will loan It $50 million to fight virus

Published 14 Jul,2020 via Bloomberg Tech- The World Bank has approved a $50 million loan to help Iran combat its coronavirus outbreak, government spokesman Ali Rabiei said Tuesday, renewing its allegation that the U.S. is blocking sorely needed international aid.

“The loan payment awaits formalities, and will be given by the World Bank to the World Health Organization,” which will buy and send items Iran’s Health Ministry needs, Rabiei said in a press conference.

Iran has also sought a $5 billion loan from the International Monetary Fund to tackle the virus outbreak, but says the Trump administration has blocked the request.

“The IMF’s hesitation in making the payment can no longer be justified, and it seems the U.S. is playing a role in this delay,” he said.

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Arsalan Shahla