[Zambia - Aid] IMF OKs $8.2 mln for Zambia under poverty program

from Reuters

WASHINGTON (Reuters) - The International Monetary Fund's executive board approved about $8.2 million for Zambia after completing the fourth review of the African country's three-year Poverty Reduction and Growth Facility, the IMF said on Wednesday.

PRGF loans carry an annual interest rate of 0.5 percent and are repayable over 10 years with a 5-1/2 year grace period on principle payments.