Financial and Banking New


OFID Lends $15mn to Three Countries

The OPEC Fund for International Development (OFID) has agreed to lend $15mn to Somalia, Jordan and Ethiopia under its seventh lending program, as follows:

 Country Amount Project Terms ($mn) Somalia 6 Balance of payments support Annual interest rate of 3% plus 1% service charge repayable in 8 years, including 3-yr grace period. Jordan 5 Part-finance of the Second Annual interest rate of 5% plus 1% stage of the...