VOL. XLV
No 11
18-March-2002
EGYPT
AFESD Lends Egypt $55Mn ForWater
The Kuwait-based ArabFund for Economic and Social Development (AFESD) announced on 19 February thatit had approved a concessional loan facility worthKD17mn ($55mn) for Egyptian water projects. In a statement, the Fund said thatthe facility carries a tenor of 25 years, a grace period of five years and anannual interest rate of 3%. The latest approval brings AFESDstotal lending to Egyptto KD516mn ($1,678mn).
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