Financial and Banking News
KFAED Lends $27mn to Cameroon and Nepal
The Kuwait Fund for Arab Economic Development (KFAED) on 26 January signed two loan agreements with Cameroon and Nepal worth a total of $27.23mn. The $7.31mn loan to Cameroon will part-finance the extension of the Song-Loulou hydroelectric station. Repayment of the loan is over 24 years, including a four-year grace period, at an annual interest rate of 3.5% plus 0.5% for administrative expenses. The...