Financial and Banking News
KFAED Lends Mauritania $6mn
The Kuwait Fund for Arab Economic Development (KFAED) has agreed to lendMauritania a supplementary loan of $6mn to help finance iron ore mining,according to an agreement signed on 15 December. The loan is repayable in 16years, including a five-year grace period, and carries an annual interest rateof 1% plus a 0.5% service charge. KFAED has already extended $45.9mn to the$71.3mn project, which...