FINANCIAL BANKING NEWS
AID FLOWS
AFESD Lends Algeria $22.7mn
The Arab Fund for Economic and Social Development (AFESD) has extended a $22.7mn loan to Algeria to finance an irrigation project in the western part of the country, according to an announcement issued in Algiers on 29 January. The loan is repayable within 17 years and carries a 6% annual interest.
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