Financial and Banking News

AID FLOWS

AFESD Lends $81mn to Syria and Sudan

The Arab Fund for Economic and Social Development (AFESD) has agreed to lend Syria and Sudan a total of $80.93mn under the terms of three loan agreements signed late last month. Syria received two loans. The first, for KD11.57mn ($38.14mn), will be used to expand a steam-generated electric power station in Mahrada which is expected to be completed by 1987. The total cost of the project, which is being co-financed...