Iran applies to World Bank and IsDB for COVID-19 loans

Iran has applied for loans from the Islamic Development Bank and World Bank to help finance its fight againt COVID-19. It is the first time since 2005 that Iran has turned to the World Bank, according to Kamel Taqavinejad, the deputy health minister.

Iran is looking for $50 million from the World Bank and $141 million from the Islamic Development Bank to buy medical equipment.

The country announced last month that it had asked the International Monetary Fund for a $5 billion loan to combat the outbreak of COVID-19 in the country. But reports later said the US had blocked Iran's request for the emergency loan.