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FINANCIAL NEWS
Kuwait will play vital role in financing projects
23 Feb 2016
(MENAFN) The Kuwait Fund for Arab Economic Development (KFAED) continues to play an essential role in financing projects globally and didn’t effect by the Iraqi invasion in 1990.
However, during the invasion, KFAED signed loan deal value USD 269mn with three Arab nations in addition to four African and Asian countries.
Accordingly, the fund’s assistance across the invasion involved USD 100.1mn loans to Syria, almost USD 66.7mn to Egypt and USD 46.69mn to Morocco.
The fund offered 899 loans with a whole of USD 18.7bn since its establishment, which was given to 105 nations including Arab states, 41 African and 48 in Asia.
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