Financial and Banking News

AID FLOWS

KFAED Lends Morocco $24.2mn 

The Kuwait Fund for Arab Economic Development (KFAED) has agreed to lend Morocco KD7mn ($24.2mn) to help finance the construction of a multi-purpose electricity and irrigation project which will also supply water for the city of Fez, according to an agreement signed on 16 June. The $561mn project entails the construction of the Ayat Ayub dam and Matmata tunnel. The loan is repayable in 19 years, including a six-year...