Financial and Banking News
AID FLOWS
AFESD Lends $5mn to Somalia
The Arab Fund for Economic and Social Development (AFESD) has agreed to lend KDl.5mn ($5mn) to Somalia to help develop the country's fisheries, according to an agreement signed on 15 January. The loan is at a 4% annual interest rate and is to be repaid over 19 years, including a four-year grace period.
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