Implementation agreement between the industrial development and renovation organization of Iran (IDRO) and the United States of America

investors against default on loans provided to Iran"s Industrial Development and Renovation Organization. Funds will be used to finance the purchase by housing cooperatives of the lowest cost housing units (ranging in price from $2, 500 to $14, 000) of a total of 5, 500 units of moderate-priced housing to be built in Arak and Tabriz.