VOL. XXX

NO. 13

5-JANUARY-1987

Financial andBanking News

AID FLOWS

IFAD LendsAlgeria $10mn

The InternationalFund for Agricultural Development (IFAD) is to lend Algeria $10mn to boostcereal and livestock production by small farmers in Tiaret province.Approximately 40,000 hectares of semi-arid lands will be cultivated for thebenefit of 25,000 people living in the area. The loan is repayable in 18 years,including a three-year grace period, and carries an annual interest rate of 8%.