VOL. XLII

No 21

24-May-1999

BAHRAIN

AFESD Extends $90.1Mn In Loans To Bahrain

The Arab Fund for Economic and Social Development (AFESD)signed loan agreements on 18 May with Bahrain for a total of $90.1mn. The softloans will be used to finance housing and electricity projects. Of the total, a$24.6mn facility has been allocated to finance the expansion of the electricalpower network. The remaining $65.5mn will be used for housing projects andcarries a 4.5% annual interest, a 22-year tenor and a...