Financial and Banking News
KFAED Assists Cyprus Road Projects
The Kuwait Fund for Arab Economic Development (KFAED) is to lend CyprusKD2.5mn ($8.80mn) to help finance the Larnaca-Kophinou road project, accordingto an agreement signed on 18 November. The loan is repayable in 16 years,including a grace period of 4% months, and carries an annual interest rate of 5%plus 0.5% for administrative charges. During 1986, KFAED provided a loan ofKD4.0mn for the...
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