Financial and Banking News

AID FLOWS

SFD Lends $2mn to Guinea-Bissau 

The Saudi Fund for Development (SFD) has agreed to lend $1.9mn to Guinea-Bissau, according to an agreement signed on 16 January. The funds will be used to build roads in rural districts. The loan is repayable in 20 years, including a five-year grace period, with an annual interest rate of 2%.