VOL. XL

No. 51/52

22/29-December-1997

LEBANON

AFESD Lends Lebanon $76Mn

Under an agreement signed on 16 December, the Arab Fund for Economic and SocialDevelopment (AFESD) will lend KD23mn ($75.7mn) to the Lebanese Government to help financestate-run university projects. The loan carries interest at 4.5% and is repayable over 22years, including a grace period of five years. Since 1990 AFESD has lent Lebanon a totalof KD152mn ($500mn).