Islamic bank loans Gabon $1.15 million

The Islamic Development Bank and Gabon signed a loan accord Wednesday in Jeddah, Saudi Arabia worth $1.15 million. The amount will help finance a 339 kilometer long road project that will link the north and south of the African country.

The loan will be reimbursed in 15 years with a grace period of three years.

The loan accord was signed by IDB President Ahmed Mohammad Ali and Gabon's Ambassador to Saudi Arabia, Nabil Koussou.