FINANCIAL NEWS

Sudan gets $7m loan from Kuwait fund

12 Aug 2010

(MENAFN) The Sudanese government has signed an agreement with the Kuwait Fund for Arab Economic Development (KFAED), whereby the Fund would grant $7 million to help boost food security in the country, Kuna reported.

Sudanese Undersecretary of Finance and Economy praised Kuwait’s vital role in the country’s developmental projects, including Khartoum’s new International Airport.

For his part, a senior KFAED official said that the grant will utilize the strategy set by the Bank which will finance production for small size farmers and support their products.

The grant comes in part through KFAED’s Decent Life Resources Department which is run by the Fund in which will be utilized to help agriculture in Sudan.

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