Financial and Banking News
Pakistan Receives $39.9Mn in Loans from KFAED and IDB
Pakistan has received two loans worth $39.88mn, according to agreements signed last week. The Kuwait Fund for Arab Economic Development (KFAED) is extending a $19.88mn loan to help finance a two-year $159mn railway modernization project. The loan is repayable within 18 years, including a three-year grace period, and carries a 4% annual interest rate plus 0.5% for administrative costs. The...