World Bank, Islamic Development Bank to help Iran in fighting COVID-19

The World Bank (WB) and the Islamic Development Bank will provide Iran with loans to support the country in fighting coronavirus, Report informs, citing Tehran Times.

"For the first time since 2005, we will receive a loan worth 50 million dollars from the World Bank. Preliminary measures have been taken by related bodies such as the Central Bank," deputy health minister Kamel Taqavinejad said, ISNA reported on Saturday.

"Moreover, the Islamic Development Bank is going to provide us with another loan worth 130 million euros for buying medical equipment," he added.

Iran's central bank wrote last month to the International Monetary Fund to request a $5-billion from its Rapid Financing Initiative, an emergency program that gives loans to countries facing sudden shocks such as natural disasters. Despite the US protest against this request, the IMF decided to discuss it.