Financial And Banking


OFID Lends Senegal $2mn 

The OPEC Fund for International Development (OFID) has agreed to lend Senegal $2mn to help finance a primary school education project, according to an agreement signed on 12 March. The loan is to be repaid in 14 years, including a four-year grace period, and carries a 3% annual interest rate plus an annual service charge of 1% on amounts withdrawn and outstanding.