Financial and Banking News

AID FLOWS

OFID Lends $18.3nn to Five Countries

The OPEC Fund for International Development (OFID) has agreed to lend $18.3mn to five developing countries, as follows: $6mn to Bangladesh for a technical education project; $3mn to Thailand for agriculture; $4.9mn to Niger for high school construction; and balance of payments sup- port loans to Cape Verdi and Mali worth $1mn and $3.4mn respectively. The loans carry interest rates ranging from 1.0-3.5% per annum,...