Financial and Banking News


KFAED Lends $15mn to Three Countries

The Kuwait Fund for Arab Economic Development (KFAED) on 26 December signed three agreements with the Philippines, Djibouti and Western Samoa worth a total of KD4.5mn ($14.83mn). The $9.89mn loan to the Philippines will help finance road construction and maintenance and is over 20 years, with a four-year grace period, at 4.5% annual interest plus 0.5% for administrative expenses. Djibouti will receive $989,000 for...