Financial and Banking News

AID FLOWS

AMF Lends Iraq $71.7mn

The Arab Monetary Fund (AMF) is to lend Iraq $71.7mn as part of its program to facilitate inter-Arab trade, according to an agreement signed on 18 June. The loan is repayable in four years, including a grace period of 18 months, and carries an annual interest rate ranging between 4.95% and 5.85%. The loan brings to $390.6mn the amount lent granted by the AMF to Iraq since 1983, out of a total of $1.37bn loaned by the Fund to all...