Islamic Development Bank Extends $668 Million in Loans, SPA Says

The Islamic Development Bank, a Saudi Arabia-based multilateral lender, approved $668 million in loans to finance projects in 12 countries, the Saudi Press Agency reported, citing the bank.

The loans include $229 million for a 304-kilometer (189- mile) high-speed rail line linking Turkey’s capital Ankara with Konya and $228 million for a sewerage network west of the Iranian capital Tehran, the news service said.

To contact the reporter on this story: Mourad Haroutunian in Riyadh at mharoutunian@bloomberg.net

To contact the editor responsible for this story: Shaji Mathew at shajimathew@bloomberg.net

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