Financial and Banking News


KFAED Lends $14mn to Natural Gas Project in Oman

The Kuwait Fund for Arab Economic Development (KFAED) has agreed to lend Oman KD4mn ($14.3mn), according to an agreement signed on 4 September. The loan is to help finance the fourth stage of a $105.2mn scheme involving drilling four wells in the Yibal gasfield, the extension of an 180-km pipeline from Yibal to Izki, and the construction of a terminal at Barka. The loan is repayable in 15 years,...