Why do you want the delay to begin with. Often the best way will be to issue a command, and have the next step in the loop be triggered by an event. If you want a delay because you are waiting for some task to be completed for instance.
Say I want to add 10 nicks to a akick list in chanserv. I could then send the command to add the first and then use the on notice event to trigger on chanserv's response, and then send the second command, etc.