NO. 5


Financial and Banking News

AID Flows

BADEA Lends $14mn to Madagascar and Benin

The Board of Directors of the Arab Bank for Economic Development in Africa (BADEA)has agreed to lend Madagascar $10mn to build a road and Benin $4mn for a ruralwater supply project. The loans carry an annual interest rate of 4% and arerepayable in 17 and 18 years respectively.