Financial and Banking News
US Lends Sudan $24mn
The US has agreed to lend Sudan $24mn to purchase wheat and wheat flour, according to an agreement signed on 16 July. Under the agreement Sudan will receive $20mn to buy 128,000 tons of wheat and 31,000 tons of wheat flour and another $4mn to cover transport fees. The loan is repayable over 30 years, including a ten-year grace period, and carries an annual interest rate of 3%. Last January the US loaned $25mn to Sudan for the...