Financial and Banking News
US Provides Soft Loan to Morocco for Food Purchase
The US has agreed to provide Morocco with a $40mn loan for the purchase ofabout 46,000 tons of vegetable oils, 42,100 tons of corn and 136,000 tons ofcereals. The loan is to be repaid over 26 years, including a five-year graceperiod, and carries an annual interest rate of 2% in the first five years and 3%in the remaining years. Income from the sale of goods to be imported in...