NO. 40


Financial and Banking News

Aid Flows

KFAED Lends Egypt $155mn for Power Project

The Kuwait Fund for Arab Economic Development (KFAED) has lent Egypt KD44mn($150mn) to build a power station at Sidi Kerir and is expected to extend asecond loan, also for KD44mn, for the same project. The agreement on the firstloan was signed in Cairo on 25 June. The Islamic Development Bank (IDB) isalso lending $30mn for the power plant. The Kuwait loans are for 20 years andcarry...