Financial and Banking News

AID FLOWS

Agfund Approves $1.3mn for Farm Projects 

The Arab Gulf Fund for UN Development (Agfund) has approved $1.3mn in aid to be channeled through the Food and Agriculture Organization (FAO) for four new agricultural projects in developing countries. Burma will receive $500,000 to develop a seed farm, Somalia $500,000 for fertilizers, Thailand $200,000 to help small farmers, and China $100,000 for grain storage training seminars.