VOL. XXXI

NO. 15

18-JANUARY-1988

Financial and Banking News

AID FLOWS

KFAED Lends Egypt $36.6mn for Pharmaceutical Plants

The Kuwait Fund for Arab Economic Development (KFAED) has agreed to lendEgypt KD10mn ($36.6mn) for the rehabilitation and modernization of fivepharmaceutical plants, according to an agreement signed in Cairo on 6 January.The loan is repayable over 15 years, including a grace period of five years, andcarries an annual interest rate of 3.5%.