Financial and Banking News
AFESD Lends Iraq $18mn
The Arab Fund for Economic and Social Development (AFESD) extended two loans to Iraq worth KD5.525mn ($18mn), according to agreements signed last week. The first loan, for KD525,000 ($1.7mn), is for the improvement of weather and seismological recording methods. It is to be repaid in 15 years, including a 3.5-year grace period, and carries an annual interest rate of 6%. The second loan, for KD5mn ($16.3mn), will help...