VOL. XXXII

NO. 22

6-MARCH-1989

Financial and Banking News

AID FLOWS

KFAED Lends $22mn to Syria

The Kuwait Fund for Arab Economic Development (KFAED) on 27 February agreedto lend Syria KD6.22mn ($21.6mn) to help finance the al-Ghab and al-Asharirrigation projects. The loan is repayable over 24 years, with a five-year graceperiod, and carries a 3% annual interest rate. The projects' total cost isestimated at $84mn.