VOL. XLV

No 13

1-April-2002

LEBANON

AFESD Signs Loan Agreement With Lebanon

The Kuwait-based Arab Fund for Economic and Social Development (AFESD) announced on 25 March that it had signed an agreement with the government of Lebanon for a KD7mn ($22mn) loan to finance the establishment of a control center as part of the national electricity network. According to a statement issued by AFESD, the loan will mature in 22 years, carries a 4.5% interest rate and has a four-year grace period. The loan...