Financial and Banking News

AID FLOWS

SFD Lends $48mn for Indian Thermal Project 

The Saudi Fund for Development (SFD) has agreed to lend SR172mn ($47.6mn) to India to finance the second phase of the Ramgundem thermal power project, according to an agreement signed on 13 May. The second phase, which is expected to be completed in 1990, involves the construction of three 500 NW units and a power transmission system in the Karim Nagar district of Andhra Pradesh state. The loan is for 20...