Financial and Banking News

AID FLOWS

OFID Lends $10.4mn to Mozambique and Togo 

The OPEC Fund for International Development (OFID) has agreed to lend $10.4mn to Mozambique and Togo to finance rail and road projects, according to two agreements signed on 5 August. Mozambique will receive $8mn to rehabilitate the country's railway system. The loan is interest-free and is repayable in 17 years including a five-year grace period. Togo will receive a $2.4mn loan for road maintenance....