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FINANCIAL NEWS
Kuwait Fund, AFESD sign USD169m loan agreement
18 Jun 2015
(MENAFN) Kuwait Fund for Arab Economic Development (KFAED) and the Arab Fund for Economic and Social Development (AFSED), alongside with the government of Lebanon, signed a USD169 million loan agreement, Kuwait News Agency reported.
The loan will be dedicated as a finance for water transfer operations from the Litani River for agricultural purposes in Lebanon. All in all, the deal is said to allow smoother and smarter exploitation of water resources across the country.
“It will irrigate around 15,000 hectares of land and provide fresh water to some 100 towns in the governorates of southern Lebanon and Nabatiya,” the Director General of KFAED said
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