Financial and Banking News

AID FLOWS

AFESD Lends North Yemen $20mn 

The Arab Fund for Economic and Social Development (AFESD) has agreed to provide two loans to North Yemen totaling KD6.2mn ($20.36mn), according to agreements signed on 25 December. The first loan, for KD5.6mn ($18.39mn), is to part-finance a maintenance project for the San'a-Ta'iz highway. The loan is for 20 years, including a five-year grace period, at an annual interest rate of 4%. The second loan, for the...