Financial and Banking News


KFAED Lends Oman $15.57mn 

The Kuwait Fund for Arab Economic Development (KFAED) has agreed to lend Oman $15.57mn to help develop an integrated electricity system in the country's northern areas, according to an agreement signed on 4 April. The loan is to be repaid in 15 years, including a grace period of three years, and carries an annual interest rate of 5%.