FONAL definition

FONAL means the Borrower’s National Assistance Housing Fund (Fonds National au Logement), established and operating pursuant to Decree No. 94-218, dated July 23, 1994, as the same may be amended from time to time;
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Examples of FONAL in a sentence

  • The following event is specified as an additional condition of effectiveness of the Loan Agreement within the meaning of Section 12.01 of the General Conditions, namely, that the Borrower shall have published in its official gazette a Decree, satisfactory to the Bank, amending Decree No. 95/175 of June 24, 1995, and providing FONAL with the capacity to finance the development of low-income housing sites.

Related to FONAL

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