VOL. XXXII

NO. 20

20-FEBRUARY-1989

Financial and Banking News

AID FLOWS

World Bank and US Lend $92mn to Algeria

The World Bank has agreed to lend Algeria $58mn to finance a locust controlprogram, according to a Bank statement on 3 February. The loan is repayable in15 years with five years' grace and an annual interest rate of 7.65%, with a0.75% commitment fee. On the same day, the US Export-Import Bank announced a$33.9mn loan to the state oil and gas company, Sonatrach, to purchaseequipment from...