Financial and Banking News


KFAED Lends $23mn to China and Uganda 

The Kuwait Fund for Arab Economic Development (KFAED) on 6 July signed two loan agreements with the People's Republic of China and Uganda worth a total of KD7mn ($23mn). The KD4mn ($13.16mn) loan to China will part-finance a $52.5mn project to improve transportation in large cities, and is repayable over 19 years, including a four-year grace period, at an annual interest rate of 5% plus 0.5% for...