Financial and Banking News


BADEA Lends Congo $8.5mn 

The Arab Bank for Economic Development in Africa (BADEA) is to lend the People's Republic of Congo $8.5mn to help finance the development of rubber cultivation in the N'tokou region, according to an agreement signed on 8 April. The loan, equivalent to 22.6% of the project cost, is repayable in 16 years, with a five-year grace period and an annual interest rate of 6.5%.