Financial and Banking News
AID FLOWS
ADB Lends Egypt $60mn
The African Development Bank (ADB) has agreed to lend Egypt's Development Industrial Bank $59.9mn, according to an ADB spokesman on 13 December. The loan, the largest in ADB's 20-year history, is repayable over 15 years with three years grace and interest at 10%. It is to provide the Egyptian bank with foreign exchange to help it in financing small-scale industrial projects to be approved by the ADB.
Please log in to read the rest of this story.
You may purchase access to entire
MEES digital archives by subscribing.
This subscription gives you access to all the content of MEES digital archives up to 1978!