Financial and Banking News


BADEA Lends $18mn to African States and Institutions

The Arab Bank for Economic Development in Africa (BADEA) has agreed to provide $18.415mn in aid to Sao-Tome and Principe, Botswana, the Seychelles and three African regional institutions. Sao-Tome and Principe will receive a $4mn loan to help build crude oil storage facilities, repayable over 12 years, including a grace period of two years, at an annual interest rate of 6%. Botswana will receive...