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FINANCIAL NEWS
Kuwait fund extends $14.3m loan to Rwanda
26 Sep 2010
(MENAFN) The Kuwait Fund for Arab Economic Development (KFAED) said that it has signed a $14.28 million loan agreement with the government of the Republic of Rwanda for boosting development projects, Kuna reported.
KFAED said in a statement that this loan aims at financing the project of developing the Integrated Regional Technical Institute at Kigali in Rwanda with the contract being signed by Undersecretary of the Rwandan Ministry of Finance and the KFAED Deputy Director General Hisham Al-Waqian.
The statement added that the proposed project aims at boosting the efforts of social and economic development in Rwanda through expanding and rehabilitating the institute to meet the increasing demands for the technical education in what contributes to the development of sophisticated human resources in the country.
It also mentioned that the project includes main elements covering civilian works, electrical and health services and its complementary utilities as well as new workshops and utilities, besides supplying and installing works for rehabilitating buildings sprawling over an area of 200 square meters.
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