Financial and Banking


KFAED Lends Cyprus $10.5mn for Road Project 

The Kuwait Fund for Arab Economic Development (KFAED) has agreed to lend Cyprus $10.5mn to part-finance a 30-mile highway between Nicosia and Larnaca, according to an agreement signed on 7 May. The $73mn transport project will be co-financed with a $20mn loan from the World Bank, with the balance of $42.5mn provided by the Cyprus Government.