Financial and Banking
AID FLOWS
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.
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