No 47



KFAED Lends Lebanon $50Mn

Under an agreement signed on 14 November in Beirut, the Kuwait Fund for Arab Economic Development (KFAED) will lend Lebanon $50mn to part finance a project for the construction of 22 government schools in the district of Beirut, estimated to cost some $185mn. The loan is repayable in 40 years including a grace period of 5 years and carries interest at 2% per annum. The $50mn loan raises total KFAED lending to Lebanon to $444mn, in...