The amended facility includes an increase in size to $480 million from $445 million and an increase in the accordion feature to $800 million from $600 million, allowing for potential future expansion. Pricing on the amended facility is reduced by 50 basis points to LIBOR plus 2.25% per annum with no LIBOR floor. The maturity of the facility is extended to five years with a four-year revolving period and a final maturity one year later. The amended facility also includes more flexible terms regarding eligible collateral.
Bridging Finance And Innovation To Advance A Green Revolution In Africa
Between 2006 and 2012, Kuwait spending has tripled to over $70 billion with the overwhelming majority going to support salary increases and public subsidies. The outgoing finance minister Mustafa al-Shamali was named oil minister, a post he had held on a caretaker basis since May following the resignation of Hani Hussein. As well as Prime Minister Sheikh Jaber Mubarak Al-Sabah, six other members of the Al-Sabah family were appointed to the cabinet, one more than in the previous government. They control the key ministries of defence, interior and foreign affairs, as well as finance, information and health.
Kuwait forms cabinet with new oil, finance ministers
For example, the Nigeria Incentive-Based Risk-Sharing System for Agricultural Lending (Nirsal) offers strong incentives and technical assistance to banks, building the confidence and agricultural understanding of lenders with the goal of increasing the percentage of bank lending to farmers and agricultural enterprises from 1.4 percent to 7 percent in the next 10 years. Nirsal has already helped to unlock additional investment: earlier this year, USAID and the Nigerian government each provided guarantees to increase private financing and leverage up to $100m in commercial lending. These innovative finance models will go a long way to replicate and scale many of the agricultural innovations already happening across the continent. The Dutch Agriculture Development and Trading Company, for example, developed a technology that brings a mobile cassava processing plant to villages and enables farmers in Mozambique to process their roots into cassava cakes that can be stored for up to two years opening new markets that were once limited because of root spoilage during transportation.