VOL. XLVII

No 01

5-January-2004

AID

AFESD Signs Loan Agreements For $149Mn With Morocco

The Arab Fund for Economic and Social Development (AFESD) on 15 December signed two loan agreements totaling KD44mn ($149mn) with Morocco. The loans carry interest at 4.5% and are repayable in 25 years, including a grace period of five years. The first, for KD14mn ($47mn), will finance the construction of the TetouanFunaidiq highway, which is intended to promote the development of tourism and growth in North...