VOL. XXXIV

NO. 25

25-MARCH-1991

Financial and Banking News

Aid Flows

US Lends Egypt $150mn for Wheat Imports

Under a loan agreement signed on 17 March, Egypt is to receive $150mn fromthe US to finance the purchase of US wheat and wheat flour during 1991. Theloan, which consists of two tranches of $75mn each, carries interest at 2%during an initial 7-year grace period, and 3% during a subsequent 24-yearrepayment period. The new funds from the US, together with credits from othersources, are expected...