$500m facilities for private sector by IDB

November 3, 2009

TEHRAN – Islamic Corporation for the Development of the private sector (ICD), a member of the Islamic Development Bank (IDB), has allocated $500 million facilities for private sector firms in Iran.

Hossein Salimi, advisor of Iran Chamber of Commerce, Industries and Mines, said ICD representatives have reviewed ways of granting the facility to the private sector in Iran with members of the Chamber, Islamic Republic of Iran Broadcasting reported.
He stated that IDB gives loans to the public sector while ICD offers facilities to the private sector of Islamic countries.
ICD promotes private sector investment in member countries, direct financing of projects or companies projects in technology, telecommunications, power, water and sanitation, healthcare, pharmaceutical and industrial sectors