VOL. XXXII

NO. 22

6-MARCH-1989

Financial and Banking News

AID FLOWS

AFESD Lends $121mn to Egypt

The Arab Fund for Economic and Social Development (AFESD) has agreed to lendEgypt KD35mn ($121mn) to construct the second stage of the power station atDamietta, 190 kms. north of Cairo. The loan is repayable over 20 years, including six years' grace, and carries an annual interest rate of 3%.