Financial and Banking News


AFESD Lends Iraq $30.89mn 

The Arab Fund for Economic and Social Development (AFESD) has agreed to extend a loan worth $30.79mn to Iraq to help co-finance a frozen meat storage project. The loan is repayable in 14 years, including a four-year grace period, and carries an annual interest rate of 6%. The loan brings total AFESD assistance to Iraq since 1974 to $84.42mn.