Financial and Banking News
AID FLOWS
IFAD Lends Somalis $7mn
The International Fund for Agricultural Development (IFAD) will extend a $7mn loan to Somalia to help finance the second phase of an agricultural scheme in the northwest region of the country, according to an agreement signed on 25 January. The loan, repayable in 50 years, is co-financed by the International Development Association and the European Economic Community.
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