VOL. XXXI

NO. 7

23-NOVEMBER-1987

Financial and Banking News

AID FLOWS

KFAED Lends The Maldives $9mn for Airport Expansion

The Kuwait Fund for Arab Economic Development (KFAED) has agreed to lend theMaldives KD2.5mn ($9mn) to part-finance the expansion of the internationalairport at the capital Male, according to an agreement signed on 18 November.The $23mn project is due to be completed in mid-1990. The 20-year loan includesa four-year grace period and carries a 1% annual interest, plus 0.5% in...