Kuwait Fund for Arab Economic offers KD 10m loan to Senegal
Deputy Director-General Hamad al-Omar
Kuwait - KUNA
Kuwait Fund for Arab Economic Development (KFAED) on Wednesday inked a loan agreement with Senegal by virtue of which the Fund will funnel KD 10 million (some USD 35 million) to the west African country.
The loan will be used in funding the rehabilitation works of the 115 km-long Touba-Dahra-Linguere highway in central Senegal, according to a statement issued by KFAED here.
The agreement was signed in Dakar, capital of Senegal, by KFAED's Deputy Director-General Hamad Al-Omar and Senegalese Minister of Economy and Finance Amadou Ba.
This is the second loan agreement for the vital project and the 29th for socio-economic development projects in Senegal with a total value of KD 100.3 million (USD 351 million).
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