Financial and Banking News

AID FLOWS

OFID Lends $18.38mn to Five Countries 

The OPEC Fund for International Development (OFID) has agreed to provide $18.38mn in soft loans to five developing countries, according to agreements signed on 14 January. The Dominican Republic is to be loaned $3mn to finance part of the $30mn Haina breakwaters project. The 14-year loan carries an annual interest rate of 6% with an annual service charge of 1% and includes a four-year grace period. Mali will...