NO. 5


Financial and Banking News

Financial Flows

KFAED Loans Morocco and China $82mn

The Kuwait Fund for Arab Economic Development (KFAED) announced on 24October that it would loan $51mn to Morocco to help finance the construction ofa 150-km. extension of the Casablanca-Rabat motorway. The new four-lane motorwaywill run along the north coast to Larache. The loan is for 15 years with afive-year grace period and carries 4% interest. It is the 15th loan made byKFAED to...