VOL. XXXV

NO. 9

2-DECEMBER-1991

Financial and Banking News

Regional Financing

Kuwait Fund Lends Syria KD37mn for Telephone Project

The Kuwait Fund for Arab Economic Development is to lend Syria KD37mn($120mn) to expand and renovate the country's telephone system. This representsabout 26% of the total project cost. The loan is for 22 years, including a six-year grace period, and is priced at 3%, with an additional 0.5% to coveradministration costs.