Financial and Banking News

AID FLOWS

AFESD Lends North Yemen $26mn 

The Arab Fund for Economic and Social Development (AFESD) has agreed to lend North Yemen KD8mn ($26mn) to build a strategic stockpile of 100,000 tons of grain to "minimize the effects of price fluctuations," according to a statement issued on 8 April. The loan covers 26% of the cost of the project, which is being co-financed by the IDB and OFID. It is repayable over 20 years, including a four-year grace...