Financial and Banking News
AFESD Lends $311.4% in 1985
The Arab Fund for Economic and Social Development (AFESD) provided a total of 15 loans worth KD9Omn ($311.4mn at an exchange rate of 1KD = $3.46) in 1985, according to the latest annual report of the Fund, an increase of 6.9% over 1984 (MEES, 22 July 1985). Around 30% of the loans went to the least-developed Arab countries. AFESD also provided 14 technical assistance grants worth a total of KD1.357mn ($4.70mn).