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FINANCIAL NEWS
KFAED extends $47m loan to Sudan
26 Jul 2010
(MENAFN) The Kuwait Fund for Arab Economic Development (KFAED) has initialed a loan agreement worth $47 million with the Sudanese government for bankrolling Khartoum’s new international airport, Kuna reported.
The deal was inked by the KFAED’s legal advisor Nawwaf Abdullah Al-Mehmel and Undersecretary of the Sudanese Ministry of Finance and Economy Al-Tayib Abu Qenaya.
Sudanese Minister of Finance and Economy said the loan would contribute to pushing forward economic and social development in Sudan, thus shoring up state efforts to meet the current challenges and requirements, including security, stability and unity.
The Kuwaiti financial help is part of financing for the first stage of the new Khartoum airport.
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