FINANCIAL AND BANKING NEWS

AID FLOWS

Germany Tends $38mn to Jordan

Germany is to lend DM70mn ($38mn) to Jordan under the terms of an agreement signed on 11 June, details of which were released last week (MEES, 22 June). The loan is for 20 years, with a five-year grace period and a 4.5% interest rate, and has been allocated to the following projects: sewage project in North Jordan, $19mn; Agricultural Credit Corporation, $4.4mn; Cities and Villages Development Bank, $5.5mn; Industrial...