VOL. XLII

No 45

8-November-1999

UAE

Abu Dhabi Development Fund Approves $150Mn In Loans To Syria

The Abu Dhabi Development Fund has approved grants worthDh543.6mn ($150mn) to Syria to finance textile, electricity and water projects,according to the official news agency WAM. The loans carry a tenor of 20years, a five-year grace period and interest rates of 3.5% per annum to berepaid in equal installments. According to Mr. Ahmad Nizam al-Din, Syria痴Minister of Industry, the loans include Dh257.11mn...