Financial and Banking News
AID FLOWS
BADEA Lends $8.2mn to Two African Countries
The Arab Bank for Economic Development in Africa (BADEA) has agreed to extend an $8mn loan to Mozambique to help finance an agricultural development project. The loan is repayable in 15 years, including a five-year grace period, and at an annual interest rate of 6%. BADEA will also provide $200,000 in technical assistance to Botswana to improve training facilities in the transport sector.
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