Financial and Banking News
AID FLOWS
KPAED Lends $5mn to Guinea-Bissau
The Kuwait Fund for Arab Economic Development (KFAED) has agreed to lend KD1.565mn ($15.18mn) to Guinea-Bissau to help finance the second stage of a road rehabilitation project, under an agreement signed on 4 September. The loan is repayable in 24 years, including a four-year grace period, and carries an annual interest rate of 1% plus 0.5% for administrative expenses.
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