Financial and Banking News

AID FLOWS

KFAED Lends $35mn to Three Countries 

The Kuwait Fund for Arab Economic Development (KFAED) on 21 May signed loan agreements with South Yemen, Djibouti and Bhutan worth a total of $34.71mn. The $19.46mn loan to South Yemen will help finance the extension and development of Aden port. The total cost of the project, which is expected to be completed in 1989 is estimated at $98.3mn. Djibouti will receive an $8.76mn loan to help finance the $20.92mn...