Financial and Banking News


SFD Loans $44mn to Algeria and Niger 

The Saudi Fund for Development (SFD) has agreed to provide $43.51mn in loans to Algeria and Niger under agreements signed earlier this month. Algeria will receive a soft 20-year loan (with five years grace) of $33.89mn to finance the Gargar dam project. The second loan, for $9.62mn, will finance the construction of drinking water wells in rural areas in Niger.

Saudi Arabia has also granted $480,000 to the...