Kuwait Fund Approves $49.5-million Loan For Argentina's Water Supply

On Sunday, a Kuwait-based fund announced that it will lend Argentina $49.5 million (KD 15.2 million) for a project to enhance water supplies in two of the country's northern districts.

According to the Kuwait Fund for Arab Economic Growth (KFAED), the initiative intends to boost economic development in the South American nation's Santa Fe and Cordoba provinces, as well as provide appropriate water supply in those areas.

The project costs $76.88 million (KD 23.59 million) and comprises the building of a water treatment facility to enhance supplies in the two provinces, according to the announcement, with a three-year timetable.

The agreement is part of a larger aid package for Argentina, which has already received loans totalling up to $288 million (KD 70 million), according to the statement. - KUNA

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