Financial and Banking News

AID FLOWS

IFAD Lends Djibouti $1.1mn 

The International Fund for Agricultural Development (IFAD) has agreed to lend Djibouti $1.1mn to co-finance a fishery training program, according to an agreement signed on 9 November. The loan is repayable over 50 years, including a ten-year grace period, and carries an annual interest rate of 1%.