Financial and Banking News

AID FLOWS

SFD Lends $13.7Mn to Syria 

The Saudi Fund for Development (SFD) has agreed to lend Syria SR50mn ($13.7mn) to finance the construction of an 83-km. highway linking the Mediterranean ports of Latakia and Tartus. The loan is repayable over 20 years, including a four-year grace period, at an annual interest rate of $3%.