Financial and Banking News

AID FLOWS

AFESD Lends $16.5 to Jordanian Agricultural Project 

The Arab Fund for Economic and Social Development (AFESD) has agreed to lend Jordan $16.5mn to part-finance the development of grazing land in the lower basin of al-Zarqa river, according to an agreement signed on 21 October. The loan is repayable over 18 years, including a five-year grace period, and carries an annual interest rate of 6%.