VOL. XXX
NO. 24
23-MARCH-1987
Financial and Banking News
AID FLOWS
KFAED Lends $9.6mn to Mozambique
The Kuwait Fund for Arab Economic Development (KFAED) has agreed to lendMozambique $9.6mn for the Elefantes river project. The $32mn scheme, due to becompleted at the end of 1989, will raise agricultural output through thedevelopment of about 2,740 hectares. The loan is repayable in 25 years,including a five-year grace period, and carries an annual interest rate of 1.5%plus 0.5% for administrative...
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