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OFID Lends Senegal $2mn

Published on Mon, 17 Mar 1986 - Volume: 29 Issue: 23

Financial And Banking

AID FLOWS

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a four-year grace period, and carries a 3% annual interest rate plus an annual service charge of 1% on amounts withdrawn and outstanding.

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