Latest News
- No Transactions Without Biometrics
- Passenger Caught With Pure Cocaine From Europe
- The Elderly Man Was Not Insulted By Me
- 97% Of MEW Workforce Are Kuwaitis; Strength 34,417
- Rushing Home For 'iftar' Causes Accidents And Deaths
- Expect Hot Days, Cool Nights, And Thunderstorms In Kuwait
- Health Procedures For Expatriates Updated
- Kuwait's Agility Global Seeks Inclusion On Abu Dhabi's ADX
- Public Authority For Industry Completes Industry Law Amendment P...
- Indian Ambassador Hosts Ramadan Celebration In Kuwait
- Al-Mashaan Grants Authority For Transfers Of Municipal Departmen...
- For The Expansion Of The Subiya Site, 204.178 Million Dinars And...
Kfaed And Ivory Coast, Malawi Sign Loan Agreements To Finance Projects
Ivory Coast and Kuwait Fund for Arab Economic Development (KFAED) Sunday have signed a loan agreement whereby the Fund will provide a loan of KD nine million ($30.6 million) to finance an environmental project.
The loan agreement was signed by Ivory Coast’s Minister of Finance Adama Kone and and KFAED’s Director-General Abdulwahab Al- Bader on the sidelines of the 2018 Africa Conference. The project aims to support economic and social development in the Gulf of Kokodi in particular by improving the environmental and health conditions of the population of that region. This is done through a comprehensive multispectral project including interventions in the field of wastewater treatment and transport, among other measures to restore the saline water characteristics of the Iberian lake in the Abidjan area, particularly in the project area. The project consists of civil, electrical and mechanical works for hydraulic installations, landscaping, sewage treatment facilities, rainwater drainage and road infrastructure.
The loan is for a period of 25 years, including a grace period of six years. The loan is repayable in 38 installments. The loan represents KFAED’s seventh to the Republic of Ivory Coast, where the past six loans financed projects in the transport, agriculture, drinking water, electricity and vocational training sectors with a total value of KD 31.076 million.
KFAED is a Kuwaiti public institution that relies entirely on its own resources in providing loans and other development assistance. Meanwhile, A loan agreement between Malawi and Kuwait Fund for Arab Economic Development (KFAED) was signed Sunday in Sharm El-Sheikh, to help finance expansion of drinking water network in Mangochi city, totaling KD five million (equivalent of $17 million).
The signing ceremony took place on the sideline of the Africa 2018 Forum. The agreement was signed by Malawi Ambassador to Egypt Caroline Bwanali Mussa and KFAED chief Abdulwahab Al-Bader. The project aims to meet the growing demand for drinking water, protect public health, utilize natural resources efficiently, and reduce waste by establishing a water treatment plant and water transmission and distribution networks in the city to serve the population of about 50,000 people and is expected to increase to 93,000 by 2036.
The total cost of the project is estimated at KD 6.3 million. The government of Malawi will cover the remaining cost. This is KFAED’s eighth loan to the Republic of Malawi. The past seven loans financed projects in the telecommunications and transport sectors with a total value of KD 24.520 million (equivalent to $83.368 million).
SOURCE : ARABTIMES
Trending News
-
MoI Urges Biometric Fingerprinting Compliance Ahea...
21 March 2024
-
5 Days Holiday For Eid Al-Fitr Begins On April 9th
25 March 2024
-
Over 120,000 Expat Offenders Will Benefit From Kuw...
14 March 2024
-
Kuwait Offering Amnesty To Illegal Expats
17 March 2024
-
From April 1 To July 1, Kuwait Grants Amnesty To V...
14 March 2024
-
Kuwaiti Banks Elevate Non-Resident Credit To 4.17...
18 March 2024
-
Central Bank Of Kuwait Provides Banks With New Ba...
20 March 2024
-
Banks In Kuwait Report Robust Profits Despite The...
21 March 2024
-
Kuwait's Clean Energy Journey: Progress And Challe...
23 March 2024
-
Driving Licenses With Smart Technology
25 March 2024
Comments Post Comment