Word: loan
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...Baghdad and central Iraq to a consortium led by Egyptian telecom giant Orascom because of its ties to Nadhmi Auchi, an Iraqi-born billionaire who built his fortune partly through arms deals with the Iraqi regime in the 1980s. Industry sources say Auchi provided Orascom with a $20 million loan to help pay down its $500 million debt. The sources say the loan gave Auchi, who faced French prosecutors earlier this year for his role in a corruption and embezzlement scandal, a controlling stake in Orascom. A senior U.S. official says Orascom's ties to Auchi are being investigated...
Either Summers was ignorant of the facts or deliberately misrepresenting them. Less than 10 percent of the Marshall Plan involved loans. The rest was pure aid money. Contrast this fact with Africa over the past two decades: In the 1980s, African countries were actually a net supplier of capital to industrialized countries. As late as 1993, rich countries took three dollars back in the form of loan repayments for every dollar given to Africa in aid, according to the 1995 Oxfam Poverty Report...
...average loan is about $500—a figure that mainstream banks are hesitant to extend...
Eurkus said that when the first such loans were made in the 1960s, Accion International’s management did not expect any of the debtor countries to return the loan...
...major reason for the caution of European and Arab donors in making commitments to Iraq. But one dimension of the financial story mostly overlooked is the political implication of the fact that most of the donor pledges corralled by the U.S. last week came in the form of loans and loan-guarantees. Washington had already acceded to the reality that nobody outside its "coalition of the willing" is going to provide funds to be managed directly by U.S. viceroy Paul Bremer, so a separate fund was created under the supervision of the IMF and World Bank to attract grants...