Financial and Banking News
KFAED Lends Oman KD6mn for Port Project
The Kuwait Fund for Arab Economic Development (KFAED) has lent Oman KD6mn($20.6mn) to finance an expansion project at Mina Qaboos port. The projectincludes the upgrading of handling capacity from 1.6mn tons/year to 2.6mn t/y,plus the construction of new buildings. The loan agreement was signed in Muscaton 9 May.